ZIM Integrated Shipping Services Ltd. $ZIM Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC lowered its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 90.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 105,084 shares of the company’s stock after selling 979,111 shares during the period. Merit Financial Group LLC owned 0.09% of ZIM Integrated Shipping Services worth $1,424,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in ZIM Integrated Shipping Services by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock worth $68,879,000 after purchasing an additional 788,514 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of ZIM Integrated Shipping Services by 134.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,368,287 shares of the company’s stock worth $70,286,000 after acquiring an additional 2,508,432 shares in the last quarter. American Century Companies Inc. raised its position in shares of ZIM Integrated Shipping Services by 15.4% during the 2nd quarter. American Century Companies Inc. now owns 2,632,099 shares of the company’s stock valued at $42,350,000 after acquiring an additional 351,810 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in ZIM Integrated Shipping Services by 10.8% during the second quarter. Allianz Asset Management GmbH now owns 1,546,383 shares of the company’s stock worth $24,881,000 after purchasing an additional 150,841 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in ZIM Integrated Shipping Services by 204.0% in the second quarter. Jump Financial LLC now owns 1,536,092 shares of the company’s stock worth $24,716,000 after purchasing an additional 1,030,817 shares during the period. Institutional investors and hedge funds own 21.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ZIM. UBS Group set a $9.70 price target on shares of ZIM Integrated Shipping Services in a research report on Monday, November 24th. Fearnley Fonds upgraded ZIM Integrated Shipping Services from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Jefferies Financial Group upped their target price on ZIM Integrated Shipping Services from $15.00 to $20.00 and gave the company a “hold” rating in a report on Monday, December 8th. Barclays increased their price target on ZIM Integrated Shipping Services from $13.30 to $13.70 and gave the stock an “underweight” rating in a research report on Friday, December 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $14.15.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE:ZIM opened at $21.89 on Monday. The firm’s 50 day moving average is $18.30 and its two-hundred day moving average is $16.12. The firm has a market capitalization of $2.64 billion, a P/E ratio of 2.63 and a beta of 1.70. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12. ZIM Integrated Shipping Services Ltd. has a 52 week low of $11.03 and a 52 week high of $23.25.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Thursday, November 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.65). The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.74 billion. ZIM Integrated Shipping Services had a return on equity of 25.18% and a net margin of 13.22%. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, December 1st were paid a dividend of $0.31 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Monday, December 1st. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 2.88%.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.