Renaissance Technologies LLC Buys 1,909,480 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Renaissance Technologies LLC grew its stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,726,631 shares of the company's stock after acquiring an additional 1,909,480 shares during the period. Renaissance Technologies LLC owned 4.76% of ZIM Integrated Shipping Services worth $122,951,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its holdings in ZIM Integrated Shipping Services by 33.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,784,352 shares of the company's stock worth $81,250,000 after acquiring an additional 940,587 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of ZIM Integrated Shipping Services by 59.4% in the third 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 period. Allianz Asset Management GmbH raised its position in shares of ZIM Integrated Shipping Services by 39.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,389,034 shares of the company's stock worth $29,823,000 after buying an additional 393,215 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at $5,509,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in ZIM Integrated Shipping Services by 1,129.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 161,440 shares of the company's stock worth $3,466,000 after acquiring an additional 148,306 shares during the last quarter. 21.42% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several research analysts recently weighed in on ZIM shares. JPMorgan Chase & Co. decreased their price objective on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an "underweight" rating on the stock in a research report on Friday, March 7th. Barclays cut their target price on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an "underweight" rating for the company in a research report on Monday, March 17th. Jefferies Financial Group reiterated a "hold" rating and issued a $18.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 12th. Finally, Bank of America cut their target price on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an "underperform" rating for the company in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $13.36.

ZIM Integrated Shipping Services Trading Up 9.6 %

Shares of NYSE ZIM traded up $1.21 during midday trading on Friday, reaching $13.81. The company had a trading volume of 6,576,829 shares, compared to its average volume of 6,079,901. The firm's fifty day moving average price is $17.77 and its 200-day moving average price is $19.95. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. ZIM Integrated Shipping Services Ltd. has a one year low of $9.75 and a one year high of $30.15. The stock has a market cap of $1.66 billion, a PE ratio of 1.16, a price-to-earnings-growth ratio of 0.27 and a beta of 1.84.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, beating the consensus estimate of $3.47 by $1.19. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were given a dividend of $3.17 per share. The ex-dividend date was Monday, March 24th. This represents a $12.68 annualized dividend and a yield of 91.84%. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $2.81. ZIM Integrated Shipping Services's dividend payout ratio is presently 6.51%.

ZIM Integrated Shipping Services Company 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.