Farther Finance Advisors LLC Acquires 2,450 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Farther Finance Advisors LLC boosted its stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 467.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,974 shares of the company’s stock after acquiring an additional 2,450 shares during the quarter. Farther Finance Advisors LLC’s holdings in ZIM Integrated Shipping Services were worth $76,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in shares of ZIM Integrated Shipping Services by 479.9% during the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after purchasing an additional 2,181,000 shares during the last quarter. Marshall Wace LLP boosted 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 valued at $53,148,000 after buying an additional 2,072,715 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at $14,383,000. International Assets Investment Management LLC raised its position in shares of ZIM Integrated Shipping Services by 2,228.7% during the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock worth $10,337,000 after acquiring an additional 385,562 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of ZIM Integrated Shipping Services by 306.7% during the second quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock valued at $9,440,000 after acquiring an additional 321,100 shares during the period. Institutional investors and hedge funds own 21.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America upped their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Jefferies Financial Group cut ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a report on Wednesday, October 2nd. Barclays increased their target price on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $15.22.

ZIM Integrated Shipping Services Stock Up 1.5 %

Shares of ZIM Integrated Shipping Services stock opened at $24.17 on Wednesday. ZIM Integrated Shipping Services Ltd. has a 52-week low of $6.39 and a 52-week high of $26.20. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. The business’s 50 day simple moving average is $21.31 and its 200 day simple moving average is $19.80. The firm has a market cap of $2.91 billion, a PE ratio of -1.48, a P/E/G ratio of 0.04 and a beta of 1.88.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings data on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. During the same quarter in the previous year, the firm posted ($1.37) earnings per share. On average, analysts predict that ZIM Integrated Shipping Services Ltd. will post 12.11 earnings per share for the current fiscal 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 issued a $0.93 dividend. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 29th. This represents a $3.72 annualized dividend and a dividend yield of 15.39%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently -1.41%.

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.