ZIM Integrated Shipping Services (NYSE:ZIM) EVP Sells $492,600.00 in Stock

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) EVP Saar Dotan sold 20,000 shares of ZIM Integrated Shipping Services stock in a transaction on Monday, June 1st. The shares were sold at an average price of $24.63, for a total value of $492,600.00. Following the completion of the transaction, the executive vice president directly owned 131,667 shares of the company’s stock, valued at $3,242,958.21. This represents a 13.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ZIM Integrated Shipping Services Price Performance

NYSE ZIM traded up $0.45 during midday trading on Tuesday, hitting $25.14. The company had a trading volume of 1,550,762 shares, compared to its average volume of 1,530,839. The company has a market capitalization of $3.03 billion, a PE ratio of 30.88 and a beta of 1.26. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $26.03 and a 200-day moving average price of $23.73. ZIM Integrated Shipping Services Ltd. has a twelve month low of $12.33 and a twelve month high of $29.97.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%.The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, analysts anticipate that ZIM Integrated Shipping Services Ltd. will post -7.24 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Friday, March 20th were issued a dividend of $0.88 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, March 20th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 14.0%. ZIM Integrated Shipping Services’s payout ratio is presently 7.41%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings cut ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Fearnley Fonds raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Barclays boosted their price target on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the stock an “underweight” rating in a report on Monday, March 16th. Finally, Citigroup raised ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $11.50 to $31.80 in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.83.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently bought and sold shares of ZIM. Royal Bank of Canada grew its position in ZIM Integrated Shipping Services by 8.2% during the 1st quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock worth $596,000 after acquiring an additional 3,102 shares during the last quarter. NewEdge Advisors LLC bought a new stake in ZIM Integrated Shipping Services during the 1st quarter worth $210,000. Goldman Sachs Group Inc. grew its position in ZIM Integrated Shipping Services by 20.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock worth $68,879,000 after acquiring an additional 788,514 shares during the last quarter. Geode Capital Management LLC grew its position in ZIM Integrated Shipping Services by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 119,218 shares of the company’s stock worth $1,915,000 after acquiring an additional 6,342 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in ZIM Integrated Shipping Services by 505.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company’s stock worth $1,236,000 after acquiring an additional 64,057 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.