abrdn plc Invests $2.86 Million in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

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 (NYSE:ZIM – Get Rating) last announced its quarterly earnings data on Wednesday, May 18th. The company reported $14.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.65 by $1.54. The company 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 prior year, the firm earned $5.13 earnings per share. Equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 41.47 earnings per share for the current year.

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

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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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