Baird Financial Group Inc. Sells 724 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Baird Financial Group Inc. lowered its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Rating) by 8.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,642 shares of the company’s stock after selling 724 shares during the period. Baird Financial Group Inc.’s holdings in ZIM Integrated Shipping Services were worth $361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ZIM. Renaissance Technologies LLC boosted its stake in shares of ZIM Integrated Shipping Services by 166.9% in the first quarter. Renaissance Technologies LLC now owns 4,062,538 shares of the company’s stock valued at $295,387,000 after buying an additional 2,540,500 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of ZIM Integrated Shipping Services by 123.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,433,175 shares of the company’s stock valued at $249,626,000 after acquiring an additional 1,897,990 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of ZIM Integrated Shipping Services by 350.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,682,724 shares of the company’s stock valued at $234,088,000 after acquiring an additional 2,087,230 shares during the period. Menora Mivtachim Holdings LTD. grew its holdings in shares of ZIM Integrated Shipping Services by 24.7% during the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 1,969,744 shares of the company’s stock worth $93,031,000 after purchasing an additional 390,164 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of ZIM Integrated Shipping Services by 5.1% in the first quarter. BlackRock Inc. now owns 824,259 shares of the company’s stock worth $59,932,000 after purchasing an additional 40,283 shares during the period. Institutional investors and hedge funds own 42.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ZIM. The Goldman Sachs Group decreased their target price on shares of ZIM Integrated Shipping Services from $60.00 to $30.00 in a report on Tuesday, September 20th. Citigroup cut ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating in a research note on Monday, August 22nd. Jefferies Financial Group decreased their price target on ZIM Integrated Shipping Services from $55.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, October 7th. TheStreet cut ZIM Integrated Shipping Services from a “c-” rating to a “d+” rating in a report on Thursday, September 22nd. Finally, Barclays reduced their price objective on ZIM Integrated Shipping Services from $63.00 to $26.50 and set an “equal weight” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.36.

ZIM Integrated Shipping Services Trading Down 1.7 %

NYSE ZIM opened at $24.37 on Tuesday. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 0.50 and a beta of 2.41. ZIM Integrated Shipping Services Ltd. has a twelve month low of $22.33 and a twelve month high of $91.23. The company has a quick ratio of 1.50, a current ratio of 1.58 and a debt-to-equity ratio of 0.54. The business’s fifty day moving average is $25.46 and its 200 day moving average is $42.22.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 7th. Stockholders of record on Tuesday, November 29th will be paid a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a dividend yield of 48.42%. The ex-dividend date is Monday, November 28th. ZIM Integrated Shipping Services’s payout ratio is 38.70%.

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.

Recommended Stories

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

Receive News & Ratings for ZIM Integrated Shipping Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ZIM Integrated Shipping Services and related companies with MarketBeat.com's FREE daily email newsletter.