ZIM Integrated Shipping Services (NYSE:ZIM) Trading Down 4.8% – Here’s What Happened

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) was down 4.8% during trading on Thursday . The stock traded as low as $16.62 and last traded at $16.68. Approximately 4,741,774 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 6,252,974 shares. The stock had previously closed at $17.51.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ZIM. Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Barclays reduced their target price on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Finally, 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 for the company in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and a consensus target price of $15.04.

ZIM Integrated Shipping Services Stock Down 4.5 %

The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 1.40, a P/E/G ratio of 0.22 and a beta of 1.77. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33. The firm’s fifty day simple moving average is $21.60 and its 200 day simple moving average is $20.70.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a dividend of $2.81 per share. This represents a $11.24 dividend on an annualized basis and a yield of 67.24%. The ex-dividend date was Monday, December 2nd. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio is 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

Institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its holdings in shares of ZIM Integrated Shipping Services by 479.9% in the 2nd 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 grew its stake in ZIM Integrated Shipping Services by 638.6% in the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after purchasing an additional 2,072,715 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of ZIM Integrated Shipping Services by 59.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock worth $46,482,000 after purchasing an additional 674,723 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of ZIM Integrated Shipping Services during the 2nd quarter worth approximately $14,383,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 2,228.7% in the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after buying an additional 385,562 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.

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.