Van ECK Associates Corp Lowers Stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Van ECK Associates Corp lowered its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating) by 25.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,534 shares of the company’s stock after selling 10,113 shares during the quarter. Van ECK Associates Corp’s holdings in ZIM Integrated Shipping Services were worth $694,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its holdings in ZIM Integrated Shipping Services by 16.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 10,749 shares of the company’s stock valued at $508,000 after purchasing an additional 1,481 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 22.5% in the second quarter. CIBC Private Wealth Group LLC now owns 72,500 shares of the company’s stock worth $3,424,000 after buying an additional 13,320 shares in the last quarter. Paradiem LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 8.1% in the third quarter. Paradiem LLC now owns 9,937 shares of the company’s stock worth $234,000 after buying an additional 746 shares in the last quarter. TD Asset Management Inc. purchased a new position in shares of ZIM Integrated Shipping Services in the second quarter worth $869,000. Finally, Delphia USA Inc. lifted its holdings in shares of ZIM Integrated Shipping Services by 85.6% in the second quarter. Delphia USA Inc. now owns 22,150 shares of the company’s stock worth $1,046,000 after buying an additional 10,213 shares in the last quarter. Hedge funds and other institutional investors own 36.74% of the company’s stock.

ZIM Integrated Shipping Services Trading Down 0.8 %

Shares of ZIM opened at $17.01 on Tuesday. The company’s fifty day moving average is $20.08 and its 200 day moving average is $30.67. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $16.23 and a fifty-two week high of $91.23. The stock has a market capitalization of $2.04 billion, a PE ratio of 0.35 and a beta of 2.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 1.58.

ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last posted its quarterly earnings data on Wednesday, November 16th. The company reported $9.66 earnings per share for the quarter, beating analysts’ consensus estimates of $9.46 by $0.20. ZIM Integrated Shipping Services had a net margin of 42.71% and a return on equity of 118.65%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 37.42 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 7th. Shareholders of record on Tuesday, November 29th were given a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a yield of 69.37%. The ex-dividend date of this dividend was Monday, November 28th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 24.04%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZIM. Jefferies Financial Group lowered their target price on shares of ZIM Integrated Shipping Services from $27.00 to $21.00 and set a “hold” rating on the stock in a report on Tuesday, December 13th. The Goldman Sachs Group lowered their target price on shares of ZIM Integrated Shipping Services from $60.00 to $30.00 in a report on Tuesday, September 20th. Barclays lowered their target price on shares of ZIM Integrated Shipping Services from $63.00 to $26.50 and set an “equal weight” rating on the stock in a report on Friday, November 18th. Finally, TheStreet downgraded shares of ZIM Integrated Shipping Services from a “c-” rating to a “d+” rating in a report on Thursday, September 22nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, ZIM Integrated Shipping Services presently has an average rating of “Hold” and a consensus price target of $34.16.

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.