Encompass Capital Advisors LLC Invests $14.38 Million in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Encompass Capital Advisors LLC bought a new position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 648,754 shares of the company's stock, valued at approximately $14,383,000. Encompass Capital Advisors LLC owned approximately 0.54% of ZIM Integrated Shipping Services at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Marshall Wace LLP boosted its stake in shares of ZIM Integrated Shipping Services by 638.6% in the 2nd 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. XTX Topco Ltd lifted its stake in ZIM Integrated Shipping Services by 523.9% in the second quarter. XTX Topco Ltd now owns 73,774 shares of the company's stock worth $1,636,000 after purchasing an additional 61,949 shares during the last quarter. Seven Eight Capital LP purchased a new stake in ZIM Integrated Shipping Services during the second quarter valued at about $1,617,000. Hsbc Holdings PLC grew its stake in shares of ZIM Integrated Shipping Services by 73.1% during the second quarter. Hsbc Holdings PLC now owns 50,860 shares of the company's stock valued at $1,116,000 after buying an additional 21,474 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company's stock worth $58,429,000 after buying an additional 2,181,000 shares during the period. 21.42% of the stock is currently owned by institutional investors.

ZIM Integrated Shipping Services Stock Down 0.1 %

Shares of NYSE:ZIM traded down $0.02 during midday trading on Thursday, reaching $23.52. The company's stock had a trading volume of 5,381,570 shares, compared to its average volume of 6,057,909. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. The firm has a 50 day moving average of $19.03 and a 200-day moving average of $16.93. The firm has a market capitalization of $2.83 billion, a P/E ratio of -1.11, a PEG ratio of 0.05 and a beta of 1.83. ZIM Integrated Shipping Services Ltd. has a 12-month low of $6.39 and a 12-month high of $23.88.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating 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 business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned ($1.37) earnings per share. On average, research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 10.87 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were paid a $0.93 dividend. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $0.23. This represents a $3.72 dividend on an annualized basis and a dividend yield of 15.82%. The ex-dividend date of this dividend was Thursday, August 29th. ZIM Integrated Shipping Services's dividend payout ratio is currently -4.35%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup cut ZIM Integrated Shipping Services from a "neutral" rating to a "sell" rating and increased their target price for the company from $11.60 to $13.00 in a report on Thursday, June 6th. Jefferies Financial Group reissued a "buy" rating and set a $22.00 price target on shares of ZIM Integrated Shipping Services in a research report on Monday, August 19th. Barclays boosted their price objective on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an "underweight" rating in a research report on Friday, August 23rd. Bank of America increased their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an "underperform" rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services presently has a consensus rating of "Reduce" and an average target price of $14.84.

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.