ZIM Integrated Shipping Services (NYSE:ZIM) Trading Up 7.5% - Here's What Happened

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report)'s share price shot up 7.5% during mid-day trading on Thursday . The company traded as high as $23.61 and last traded at $23.08. 2,425,268 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 6,167,440 shares. The stock had previously closed at $21.47.

Wall Street Analyst Weigh In

ZIM has been the topic of several analyst reports. Jefferies Financial Group decreased their target price on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a "hold" rating on the stock in a research note on Tuesday, December 17th. Barclays upped their target price on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an "underweight" rating in a research report on Monday, November 25th. Fearnley Fonds downgraded ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a report on Thursday, November 21st. JPMorgan Chase & Co. restated an "underweight" rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $15.14.

ZIM Integrated Shipping Services Stock Up 8.6 %

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 firm has a market cap of $2.81 billion, a P/E ratio of 1.95, a P/E/G ratio of 0.04 and a beta of 1.78. The business has a 50-day moving average price of $22.20 and a 200-day moving average price of $20.70.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a dividend of $2.81 per share. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $0.93. The ex-dividend date was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a yield of 48.22%. ZIM Integrated Shipping Services's dividend payout ratio is presently 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

Several large investors have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its position in ZIM Integrated Shipping Services by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 38,079 shares of the company's stock worth $977,000 after purchasing an additional 591 shares in the last quarter. Janney Montgomery Scott LLC grew its position in ZIM Integrated Shipping Services by 2.1% during the third quarter. Janney Montgomery Scott LLC now owns 44,292 shares of the company's stock valued at $1,137,000 after buying an additional 915 shares during the period. Fairman Group LLC purchased a new position in ZIM Integrated Shipping Services in the third quarter valued at $26,000. Olympiad Research LP raised its position in shares of ZIM Integrated Shipping Services by 12.9% in the third quarter. Olympiad Research LP now owns 10,588 shares of the company's stock worth $272,000 after acquiring an additional 1,212 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter worth about $31,000. Hedge funds and other 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.