abrdn plc Purchases Shares of 39,200 ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

abrdn plc purchased a new stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Rating) during the first quarter, Holdings Channel reports. The firm purchased 39,200 shares of the company’s stock, valued at approximately $2,855,000.

A number of other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at about $975,000. Sfmg LLC bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at about $240,000. Qube Research & Technologies Ltd grew its stake in shares of ZIM Integrated Shipping Services by 249.7% during the fourth quarter. Qube Research & Technologies Ltd now owns 120,825 shares of the company’s stock valued at $7,112,000 after buying an additional 86,271 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ZIM Integrated Shipping Services by 131.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,127 shares of the company’s stock valued at $537,000 after buying an additional 5,182 shares during the last quarter. Finally, Renaissance Capital LLC bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at about $535,000. Hedge funds and other institutional investors own 47.33% of the company’s stock.

ZIM Integrated Shipping Services Stock Performance

ZIM Integrated Shipping Services stock opened at $49.82 on Monday. The stock’s 50 day simple moving average is $52.52 and its two-hundred day simple moving average is $61.69. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.26 and a current ratio of 1.29. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 1.04 and a beta of 2.86. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $38.32 and a fifty-two week high of $91.23.

ZIM Integrated Shipping Services (NYSE:ZIMGet Rating) last posted its quarterly earnings data on Wednesday, May 18th. The company reported $14.19 earnings per share for the quarter, beating the consensus estimate of $12.65 by $1.54. The business had revenue of $3.72 billion for the quarter. ZIM Integrated Shipping Services had a return on equity of 167.57% and a net margin of 45.36%. During the same period in the previous year, the firm posted $5.13 earnings per share. As a group, analysts expect that ZIM Integrated Shipping Services Ltd. will post 41.47 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 8th. Shareholders of record on Tuesday, May 31st were given a dividend of $2.85 per share. The ex-dividend date was Friday, May 27th. This represents a $11.40 annualized dividend and a yield of 22.88%. ZIM Integrated Shipping Services’s payout ratio is 23.80%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ZIM shares. JPMorgan Chase & Co. raised ZIM Integrated Shipping Services from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $43.60 to $53.30 in a research note on Friday, June 17th. Clarkson Capital reissued a “neutral” rating on shares of ZIM Integrated Shipping Services in a research note on Tuesday, June 14th. Jefferies Financial Group assumed coverage on ZIM Integrated Shipping Services in a research note on Wednesday, July 20th. They issued a “hold” rating and a $55.00 target price on the stock. Finally, Bank of America cut ZIM Integrated Shipping Services from a “buy” rating to an “underperform” rating and cut their target price for the stock from $79.00 to $40.00 in a research note on Friday, July 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, ZIM Integrated Shipping Services presently has an average rating of “Hold” and a consensus target price of $59.66.

About ZIM Integrated Shipping Services

(Get Rating)

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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Institutional Ownership by Quarter for ZIM Integrated Shipping Services (NYSE:ZIM)

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