Fairman Group LLC purchased a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $26,000.
A number of other hedge funds have also made changes to their positions in the stock. Renaissance Technologies LLC raised its position in ZIM Integrated Shipping Services by 479.9% during the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after acquiring an additional 2,181,000 shares in the last quarter. Marshall Wace LLP raised its position in ZIM Integrated Shipping Services by 638.6% during the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after acquiring an additional 2,072,715 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in ZIM Integrated Shipping Services during the second quarter valued at approximately $14,383,000. International Assets Investment Management LLC raised its position in ZIM Integrated Shipping Services by 2,228.7% during the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after acquiring an additional 385,562 shares in the last quarter. Finally, Millennium Management LLC raised its position in ZIM Integrated Shipping Services by 306.7% during the second quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock valued at $9,440,000 after acquiring an additional 321,100 shares in the last quarter. 21.42% of the stock is owned by hedge funds and other institutional investors.
ZIM Integrated Shipping Services Stock Performance
Shares of ZIM Integrated Shipping Services stock traded up $0.57 during midday trading on Thursday, hitting $23.04. The company had a trading volume of 753,673 shares, compared to its average volume of 6,102,833. The business’s 50 day simple moving average is $20.30 and its two-hundred day simple moving average is $18.52. The stock has a market cap of $2.77 billion, a PE ratio of -1.38, a P/E/G ratio of 0.05 and a beta of 1.86. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97. ZIM Integrated Shipping Services Ltd. has a 1-year low of $6.39 and a 1-year high of $26.20.
ZIM Integrated Shipping Services Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.93 per share. The ex-dividend date was Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a yield of 16.15%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s payout ratio is currently -5.64%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on ZIM. Bank of America raised their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Jefferies Financial Group lowered shares of ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research report on Wednesday, October 2nd. Barclays lifted their price target on shares of ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $15.22.
View Our Latest Research Report on ZIM
ZIM Integrated Shipping Services Company Profile
ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.
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