Arrowstreet Capital Limited Partnership Increases Stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Arrowstreet Capital Limited Partnership grew its position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 33.1% during the 4th quarter, Holdings Channel reports. The fund owned 3,784,352 shares of the company’s stock after buying an additional 940,587 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in ZIM Integrated Shipping Services were worth $81,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ZIM. JPMorgan Chase & Co. lifted its position in ZIM Integrated Shipping Services by 59.4% in the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after purchasing an additional 674,723 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at approximately $2,612,000. Decker Retirement Planning Inc. purchased a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter valued at approximately $5,509,000. Truist Financial Corp grew its holdings in ZIM Integrated Shipping Services by 10.2% during the fourth quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock worth $318,000 after acquiring an additional 1,376 shares during the period. Finally, Verition Fund Management LLC raised its position in ZIM Integrated Shipping Services by 2,171.6% in the third quarter. Verition Fund Management LLC now owns 208,057 shares of the company’s stock worth $5,339,000 after acquiring an additional 198,898 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZIM has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a research note on Monday, March 17th. JPMorgan Chase & Co. lowered their target price on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $18.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.54.

ZIM Integrated Shipping Services Price Performance

ZIM opened at $14.60 on Tuesday. ZIM Integrated Shipping Services Ltd. has a 1 year low of $9.75 and a 1 year high of $30.15. The company’s 50 day simple moving average is $18.63 and its 200 day simple moving average is $20.53. The stock has a market capitalization of $1.76 billion, a PE ratio of 1.22, a P/E/G ratio of 0.27 and a beta of 1.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $1.19. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. As a group, sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th will be paid a dividend of $3.17 per share. The ex-dividend date is Monday, March 24th. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. This represents a $12.68 annualized dividend and a yield of 86.88%. ZIM Integrated Shipping Services’s dividend payout ratio is currently 6.51%.

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.