Quadrature Capital Ltd decreased its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 18.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 181,693 shares of the company's stock after selling 41,351 shares during the quarter. Quadrature Capital Ltd owned approximately 0.15% of ZIM Integrated Shipping Services worth $4,660,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in 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 worth $58,429,000 after buying an additional 2,181,000 shares in the last quarter. Marshall Wace LLP lifted its position in 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 worth $53,148,000 after buying an additional 2,072,715 shares in the last quarter. American Century Companies Inc. lifted its position in ZIM Integrated Shipping Services by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 1,759,141 shares of the company's stock worth $39,000,000 after buying an additional 127,229 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in ZIM Integrated Shipping Services by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company's stock worth $22,079,000 after buying an additional 36,692 shares in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in ZIM Integrated Shipping Services in the 2nd quarter worth approximately $14,383,000. Hedge funds and other institutional investors own 21.42% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reiterated a "hold" rating and issued a $25.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, November 20th. Bank of America raised 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 report on Wednesday, August 28th. 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. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Finally, Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a report on Thursday, November 21st. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.74.
Get Our Latest Stock Report on ZIM Integrated Shipping Services
ZIM Integrated Shipping Services Stock Performance
ZIM traded up $0.34 during trading on Friday, hitting $20.96. The stock had a trading volume of 4,897,612 shares, compared to its average volume of 6,244,896. The firm has a market cap of $2.52 billion, a PE ratio of 1.75, a P/E/G ratio of 0.04 and a beta of 1.78. ZIM Integrated Shipping Services Ltd. has a 12 month low of $6.97 and a 12 month high of $30.15. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The company has a 50 day simple moving average of $22.74 and a 200-day simple moving average of $20.70.
ZIM Integrated Shipping Services Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be issued a $2.81 dividend. This represents a $11.24 annualized dividend and a yield of 53.63%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from ZIM Integrated Shipping Services's previous quarterly dividend of $0.93. ZIM Integrated Shipping Services's dividend payout ratio (DPR) is 9.72%.
About ZIM Integrated Shipping Services
(
Free Report)
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.
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