Causeway Capital Management LLC Acquires 491,093 Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Causeway Capital Management LLC lifted its stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 509.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 587,518 shares of the company’s stock after acquiring an additional 491,093 shares during the period. Causeway Capital Management LLC owned 0.49% of ZIM Integrated Shipping Services worth $12,614,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Employees Retirement System of Texas acquired a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at about $45,000. Sunbelt Securities Inc. acquired a new stake in ZIM Integrated Shipping Services in the third quarter valued at approximately $71,000. Brown Brothers Harriman & Co. bought a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter valued at approximately $79,000. R Squared Ltd acquired a new position in shares of ZIM Integrated Shipping Services during the fourth quarter worth approximately $88,000. Finally, Mark Sheptoff Financial Planning LLC raised its position in shares of ZIM Integrated Shipping Services by 26.5% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,300 shares of the company’s stock worth $92,000 after purchasing an additional 900 shares during the period. 21.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZIM. Bank of America decreased their price target on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a report on Friday, March 7th. Barclays cut their price target on ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating for the company in a research note on Monday, March 17th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $18.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. Five investment 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 company. Based on data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Hold” and an average target price of $13.36.

ZIM Integrated Shipping Services Stock Up 9.6 %

ZIM Integrated Shipping Services stock opened at $13.81 on Monday. 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 stock has a market cap of $1.66 billion, a PE ratio of 1.16, a price-to-earnings-growth ratio of 0.27 and a beta of 1.84. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $9.75 and a fifty-two week high of $30.15. The firm’s 50-day simple moving average is $17.77 and its 200 day simple moving average is $19.95.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $1.19. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.99 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. Research analysts predict that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were given a dividend of $3.17 per share. The ex-dividend date was Monday, March 24th. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. This represents a $12.68 annualized dividend and a dividend yield of 91.84%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 6.51%.

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.