Allspring Global Investments Holdings LLC Sells 164,100 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Allspring Global Investments Holdings LLC lessened its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating) by 92.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,235 shares of the company’s stock after selling 164,100 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ZIM Integrated Shipping Services were worth $311,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter worth approximately $28,000. Exchange Traded Concepts LLC raised its holdings in ZIM Integrated Shipping Services by 92.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,406 shares of the company’s stock valued at $33,000 after acquiring an additional 676 shares during the period. FNY Investment Advisers LLC bought a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at $35,000. Private Trust Co. NA bought a new stake in ZIM Integrated Shipping Services during the 2nd quarter valued at $56,000. Finally, Focused Wealth Management Inc bought a new stake in ZIM Integrated Shipping Services during the 2nd quarter valued at $71,000. Institutional investors own 36.74% of the company’s stock.

ZIM Integrated Shipping Services Stock Performance

Shares of NYSE:ZIM opened at $18.69 on Wednesday. ZIM Integrated Shipping Services Ltd. has a 12 month low of $16.23 and a 12 month high of $91.23. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 0.38 and a beta of 2.37. The company has a 50-day moving average price of $19.38 and a 200-day moving average price of $29.80. The company has a current ratio of 1.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last issued its earnings results on Wednesday, November 16th. The company reported $9.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.46 by $0.20. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.01 billion. ZIM Integrated Shipping Services had a net margin of 42.71% and a return on equity of 118.65%. As a group, equities analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 37.1 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 7th. Stockholders of record on Tuesday, November 29th were given a dividend of $2.95 per share. The ex-dividend date of this dividend was Monday, November 28th. This represents a $11.80 annualized dividend and a dividend yield of 63.14%. ZIM Integrated Shipping Services’s payout ratio is 24.04%.

Analyst Ratings Changes

ZIM has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target 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. Barclays decreased their price target 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. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.16.

About ZIM Integrated Shipping Services

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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.