Renaissance Technologies LLC Acquires 2,181,000 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Renaissance Technologies LLC boosted its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 479.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,635,500 shares of the company’s stock after acquiring an additional 2,181,000 shares during the period. Renaissance Technologies LLC’s holdings in ZIM Integrated Shipping Services were worth $58,429,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. American Century Companies Inc. lifted its position in ZIM Integrated Shipping Services by 7.8% during the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock valued at $39,000,000 after purchasing an additional 127,229 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ZIM Integrated Shipping Services by 82.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock valued at $5,054,000 after buying an additional 231,955 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of ZIM Integrated Shipping Services by 1,446.0% in the 4th quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock worth $1,595,000 after buying an additional 151,102 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of ZIM Integrated Shipping Services by 2.4% in the first quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock worth $1,060,000 after acquiring an additional 2,423 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in ZIM Integrated Shipping Services by 81.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,560 shares of the company’s stock valued at $956,000 after acquiring an additional 40,326 shares during the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Stock Performance

NYSE ZIM opened at $19.69 on Wednesday. ZIM Integrated Shipping Services Ltd. has a 12 month low of $6.39 and a 12 month high of $23.82. The company’s 50 day moving average is $18.63 and its two-hundred day moving average is $16.53. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.07 by $1.01. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. During the same quarter in the prior year, the firm posted ($1.37) EPS. As a group, equities research analysts expect that ZIM Integrated Shipping Services Ltd. will post 10.87 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 18.89%. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is -4.35%.

Analysts Set New Price Targets

Several brokerages have issued reports on ZIM. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Citigroup lowered shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their target price for the company from $11.60 to $13.00 in a research report on Thursday, June 6th. Bank of America increased their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Jefferies Financial Group reissued a “buy” rating and set a $22.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Monday, August 19th. Finally, Barclays raised their target price on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a sell rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $14.84.

About ZIM Integrated Shipping Services

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.