abrdn plc bought a new position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 39,200 shares of the company’s stock, valued at approximately $2,855,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in ZIM. Westhampton Capital LLC lifted its holdings in ZIM Integrated Shipping Services by 25.9% during the 1st quarter. Westhampton Capital LLC now owns 4,380 shares of the company’s stock worth $318,000 after purchasing an additional 900 shares during the last quarter. International Assets Investment Management LLC acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at $1,563,000. State of New Jersey Common Pension Fund D raised its holdings in ZIM Integrated Shipping Services by 1.9% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 36,292 shares of the company’s stock valued at $2,639,000 after acquiring an additional 692 shares in the last quarter. FDx Advisors Inc. acquired a new position in ZIM Integrated Shipping Services in the 1st quarter valued at $338,000. Finally, Truvestments Capital LLC raised its holdings in ZIM Integrated Shipping Services by 10,952.0% in the 1st quarter. Truvestments Capital LLC now owns 5,526 shares of the company’s stock valued at $402,000 after acquiring an additional 5,476 shares in the last quarter. 47.33% of the stock is currently owned by institutional investors.
ZIM Integrated Shipping Services Stock Up 3.1 %
Shares of NYSE:ZIM opened at $49.82 on Monday. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 1.04 and a beta of 2.86. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.29 and a quick ratio of 1.26. The business’s 50-day moving average is $52.52 and its 200-day moving average is $61.69. ZIM Integrated Shipping Services Ltd. has a 1 year low of $38.32 and a 1 year high of $91.23.
ZIM Integrated Shipping Services Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 8th. Investors of record on Tuesday, May 31st were paid a dividend of $2.85 per share. This represents a $11.40 dividend on an annualized basis and a yield of 22.88%. The ex-dividend date of this dividend was Friday, May 27th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 23.80%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on ZIM. Bank of America cut ZIM Integrated Shipping Services from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $79.00 to $40.00 in a report on Friday, July 1st. Jefferies Financial Group began coverage on ZIM Integrated Shipping Services in a report on Wednesday, July 20th. They issued a “hold” rating and a $55.00 price objective for the company. JPMorgan Chase & Co. upgraded ZIM Integrated Shipping Services from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $43.60 to $53.30 in a research note on Friday, June 17th. Finally, Clarkson Capital restated a “neutral” rating on shares of ZIM Integrated Shipping Services in a research report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.66.
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.
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