HighTower Advisors LLC Makes New Investment in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

HighTower Advisors LLC purchased a new position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,166 shares of the company’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC increased its position in ZIM Integrated Shipping Services by 2,228.7% during the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock worth $10,337,000 after purchasing an additional 385,562 shares during the period. Blueshift Asset Management LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the third quarter valued at approximately $620,000. Quantbot Technologies LP grew its holdings in ZIM Integrated Shipping Services by 9,573.0% during the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock worth $9,506,000 after acquiring an additional 366,647 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in ZIM Integrated Shipping Services in the second quarter worth $2,343,000. Finally, SG Americas Securities LLC lifted its holdings in ZIM Integrated Shipping Services by 1,226.7% in the third quarter. SG Americas Securities LLC now owns 343,581 shares of the company’s stock valued at $8,816,000 after acquiring an additional 317,684 shares during the period. 21.42% of the stock is currently owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE:ZIM opened at $20.47 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33. The business’s fifty day moving average price is $22.34 and its two-hundred day moving average price is $20.58. The stock has a market cap of $2.46 billion, a PE ratio of 1.71, a price-to-earnings-growth ratio of 0.04 and a beta of 1.78. ZIM Integrated Shipping Services Ltd. has a one year low of $9.08 and a one year high of $30.15.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a dividend of $2.81 per share. The ex-dividend date was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a dividend yield of 54.91%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 9.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Fearnley Fonds downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Bank of America increased their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Barclays boosted their price target on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a research note on Monday, November 25th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 target price on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. 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 stock. According to MarketBeat, ZIM Integrated Shipping Services has an average rating of “Hold” and an average price target of $15.14.

ZIM Integrated Shipping Services 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.