ZIM Integrated Shipping Services (NYSE:ZIM) Trading 5.9% Higher – Here’s What Happened

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price rose 5.9% on Monday . The stock traded as high as $19.50 and last traded at $19.37. Approximately 1,263,337 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 6,204,195 shares. The stock had previously closed at $18.29.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ZIM. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Jefferies Financial Group dropped their price target on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, December 17th. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Finally, Bank of America boosted their price target 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. Five analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ZIM Integrated Shipping Services presently has an average rating of “Hold” and a consensus price target of $15.14.

ZIM Integrated Shipping Services Stock Up 9.5 %

The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The firm’s fifty day simple moving average is $22.34 and its 200-day simple moving average is $20.58. The company has a market cap of $2.41 billion, a PE ratio of 1.68, a P/E/G ratio of 0.04 and a beta of 1.78.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a dividend of $2.81 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, December 2nd. This represents a $11.24 annualized dividend and a yield of 56.14%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its position in ZIM Integrated Shipping Services by 2,228.7% during the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock worth $10,337,000 after purchasing an additional 385,562 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of ZIM Integrated Shipping Services during the third quarter worth about $2,612,000. Blueshift Asset Management LLC acquired a new position in shares of ZIM Integrated Shipping Services in the third quarter valued at approximately $620,000. Quantbot Technologies LP raised its position in shares of ZIM Integrated Shipping Services by 9,573.0% in the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock valued at $9,506,000 after buying an additional 366,647 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of ZIM Integrated Shipping Services during the second quarter valued at approximately $2,343,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

About ZIM Integrated Shipping Services

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.