Fairman Group LLC Invests $26,000 in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Fairman Group LLC purchased a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) 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 (NYSE:ZIM) last posted its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company earned ($1.37) earnings per share. As a group, equities analysts predict that ZIM Integrated Shipping Services Ltd. will post 11.22 EPS for the current fiscal year.

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.

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.