Quadrature Capital Ltd Sells 41,351 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Quadrature Capital Ltd lowered its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 18.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 181,693 shares of the company’s stock after selling 41,351 shares during the period. Quadrature Capital Ltd owned approximately 0.15% of ZIM Integrated Shipping Services worth $4,660,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ZIM. Renaissance Technologies LLC grew its position in ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after acquiring an additional 2,181,000 shares during the last quarter. Marshall Wace LLP grew its position in ZIM Integrated Shipping Services by 638.6% in the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after acquiring an additional 2,072,715 shares during the last quarter. American Century Companies Inc. grew its position in ZIM Integrated Shipping Services by 7.8% in the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock valued at $39,000,000 after acquiring an additional 127,229 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in ZIM Integrated Shipping Services by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock valued at $22,079,000 after acquiring an additional 36,692 shares during the last quarter. Finally, Encompass Capital Advisors LLC bought a new position in ZIM Integrated Shipping Services in the second quarter valued at about $14,383,000. Institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Price Performance

ZIM Integrated Shipping Services stock opened at $20.62 on Friday. The stock’s 50 day moving average is $22.74 and its 200 day moving average is $20.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The firm has a market cap of $2.48 billion, a P/E ratio of 1.73, a P/E/G ratio of 0.04 and a beta of 1.78. ZIM Integrated Shipping Services Ltd. has a one year low of $6.97 and a one year high of $30.15.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a $2.81 dividend. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 dividend on an annualized basis and a dividend yield of 54.51%. The ex-dividend date is Monday, December 2nd. ZIM Integrated Shipping Services’s payout ratio is currently 9.72%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ZIM shares. Barclays lifted their price target on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company 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. Jefferies Financial Group reissued a “hold” rating and set a $25.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, November 20th. Bank of America lifted their price target on 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. Finally, Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.74.

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.