International Assets Investment Management LLC Acquires 385,562 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

International Assets Investment Management LLC lifted its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 2,228.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 402,862 shares of the company's stock after purchasing an additional 385,562 shares during the quarter. International Assets Investment Management LLC owned 0.33% of ZIM Integrated Shipping Services worth $10,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZIM. Renaissance Technologies LLC raised its stake in ZIM Integrated Shipping Services by 479.9% during the 2nd 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. Marshall Wace LLP raised its position in shares of 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 worth $53,148,000 after purchasing an additional 2,072,715 shares during the period. Encompass Capital Advisors LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the second quarter worth about $14,383,000. Millennium Management LLC grew its position in shares of ZIM Integrated Shipping Services by 306.7% in the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company's stock valued at $9,440,000 after purchasing an additional 321,100 shares during the period. Finally, SG Americas Securities LLC increased its stake in ZIM Integrated Shipping Services by 1,226.7% during the 3rd quarter. SG Americas Securities LLC now owns 343,581 shares of the company's stock worth $8,816,000 after purchasing an additional 317,684 shares in the last quarter. 21.42% of the stock is owned by institutional investors.

ZIM Integrated Shipping Services Stock Up 9.6 %

ZIM Integrated Shipping Services stock traded up $2.09 during mid-day trading on Thursday, reaching $23.79. The company's stock had a trading volume of 5,411,549 shares, compared to its average volume of 6,055,207. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. ZIM Integrated Shipping Services Ltd. has a 12 month low of $6.39 and a 12 month high of $26.20. The business's 50 day simple moving average is $20.57 and its 200 day simple moving average is $19.00. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -1.46, a price-to-earnings-growth ratio of 0.04 and a beta of 1.86.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly earnings data on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter last year, the company earned ($1.37) EPS. As a group, research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 12.11 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders 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 dividend yield of 15.64%. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $0.23. ZIM Integrated Shipping Services's dividend payout ratio is currently -5.64%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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 note on Wednesday, October 2nd. Barclays boosted their price objective 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, October 23rd. Bank of America increased their target price on 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 issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $15.22.

ZIM Integrated Shipping Services 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.