ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 4.8% – Here’s What Happened

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) fell 4.8% during mid-day trading on Thursday . The company traded as low as $16.62 and last traded at $16.68. 4,741,774 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 6,252,974 shares. The stock had previously closed at $17.51.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Barclays reduced their target price on ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group reduced their price objective on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a research report on Tuesday, December 17th. Five analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Hold” and an average price target of $15.04.

ZIM Integrated Shipping Services Stock Down 4.5 %

The stock has a fifty day moving average price of $21.60 and a two-hundred day moving average price of $20.70. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 1.40, a P/E/G ratio of 0.22 and a beta of 1.77. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a $2.81 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a yield of 67.24%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s payout ratio is currently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZIM. Fairman Group LLC bought a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in ZIM Integrated Shipping Services in the third quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. lifted its stake in ZIM Integrated Shipping Services by 2,341.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after purchasing an additional 1,850 shares during the last quarter. American Capital Advisory LLC acquired a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at $69,000. Finally, Sunbelt Securities Inc. bought a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at $71,000. 21.42% of the stock is owned by institutional investors and hedge funds.

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.