Bank of Montreal Can Has $1.21 Million Stock Holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Bank of Montreal Can decreased its position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 54,601 shares of the company’s stock after selling 850 shares during the quarter. Bank of Montreal Can’s holdings in ZIM Integrated Shipping Services were worth $1,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ZIM. Scarborough Advisors LLC acquired a new position in ZIM Integrated Shipping Services in the fourth quarter worth $58,000. Russell Investments Group Ltd. raised its holdings in shares of ZIM Integrated Shipping Services by 1,431.1% in the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after buying an additional 5,667 shares during the last quarter. Mather Group LLC. acquired a new position in ZIM Integrated Shipping Services during the 2nd quarter worth about $96,000. Cetera Advisors LLC acquired a new position in ZIM Integrated Shipping Services during the 1st quarter worth about $130,000. Finally, nVerses Capital LLC bought a new stake in ZIM Integrated Shipping Services during the 2nd quarter worth about $142,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Stock Down 12.6 %

NYSE:ZIM opened at $18.95 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. ZIM Integrated Shipping Services Ltd. has a 12-month low of $6.39 and a 12-month high of $26.20. The stock’s fifty day simple moving average is $19.81 and its 200-day simple moving average is $17.51. The firm has a market capitalization of $2.28 billion, a P/E ratio of -0.90, a P/E/G ratio of 0.05 and a beta of 1.86.

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

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 19.63%. 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 is presently -4.35%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ZIM shares. Jefferies Financial Group lowered shares of ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research report on Wednesday. Barclays boosted their target price on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Finally, Bank of America boosted their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating and one has given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $15.44.

ZIM Integrated Shipping Services Company Profile

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.