Bank of Montreal Can Sells 850 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Bank of Montreal Can lowered its stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 1.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its holdings in shares of ZIM Integrated Shipping Services by 2.4% during the 1st quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock worth $1,060,000 after buying an additional 2,423 shares during the period. Van ECK Associates Corp lifted its position in ZIM Integrated Shipping Services by 9.6% during the 2nd quarter. Van ECK Associates Corp now owns 37,488 shares of the company’s stock worth $831,000 after acquiring an additional 3,296 shares during the last quarter. Rhumbline Advisers boosted its holdings in ZIM Integrated Shipping Services by 39.3% during the second quarter. Rhumbline Advisers now owns 11,732 shares of the company’s stock valued at $260,000 after acquiring an additional 3,311 shares during the period. Mather Group LLC. acquired a new stake in shares of ZIM Integrated Shipping Services in the second quarter valued at about $96,000. Finally, International Assets Investment Management LLC increased its stake in shares of ZIM Integrated Shipping Services by 29.5% in the first quarter. International Assets Investment Management LLC now owns 22,800 shares of the company’s stock worth $243,000 after purchasing an additional 5,200 shares during the period. Institutional investors and hedge funds own 21.42% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group downgraded ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research note on Wednesday. Bank of America raised their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Barclays upped their target price on shares of ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $15.44.

ZIM Integrated Shipping Services Stock Performance

ZIM opened at $18.95 on Friday. The stock’s 50 day simple moving average is $19.81 and its 200-day simple moving average is $17.51. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. The stock has a market cap of $2.28 billion, a PE ratio of -0.90, a P/E/G ratio of 0.05 and a beta of 1.86. ZIM Integrated Shipping Services Ltd. has a 1 year low of $6.39 and a 1 year high of $26.20.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share 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 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 previous year, the company earned ($1.37) earnings per share. Sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post 10.87 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.93 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a yield of 19.63%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently -4.35%.

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.