Van ECK Associates Corp Boosts Holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Van ECK Associates Corp raised its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 9.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,488 shares of the company’s stock after purchasing an additional 3,296 shares during the period. Van ECK Associates Corp’s holdings in ZIM Integrated Shipping Services were worth $831,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Allianz Asset Management GmbH lifted its stake in 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 valued at $1,595,000 after buying an additional 151,102 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of ZIM Integrated Shipping Services in the fourth quarter worth $127,000. Seven Eight Capital LP lifted its position in shares of ZIM Integrated Shipping Services by 166.1% in the fourth quarter. Seven Eight Capital LP now owns 83,745 shares of the company’s stock valued at $827,000 after acquiring an additional 52,270 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of 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. Finally, Jump Financial LLC purchased a new stake in ZIM Integrated Shipping Services during the 4th quarter worth about $130,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Price Performance

ZIM opened at $16.18 on Friday. ZIM Integrated Shipping Services Ltd. has a 1 year low of $6.39 and a 1 year high of $23.82. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. The company’s 50 day simple moving average is $19.13 and its 200 day simple moving average is $16.22. The stock has a market capitalization of $1.95 billion, a PE ratio of -0.76, a P/E/G ratio of 0.03 and a beta of 1.83.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings data on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the company earned ($1.37) EPS. As a group, sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 11.79 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 22.99%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 29th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is -4.35%.

Analysts Set New Price Targets

A number of research firms have issued reports on ZIM. Citigroup lowered shares of ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and upped their target price for the company from $11.60 to $13.00 in a report on Thursday, June 6th. Bank of America upped their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Barclays lifted their target price on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $22.00 price target on shares of ZIM Integrated Shipping Services in a research note on Monday, August 19th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.59.

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.