Insider Selling: 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 that occurred 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 sale, the executive vice president directly owned 131,667 shares in the company, valued at $3,242,958.21. This trade represents a 13.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Saar Dotan also recently made the following trade(s):

• On Tuesday, June 2nd, Saar Dotan sold 15,000 shares of ZIM Integrated Shipping Services stock. The stock was sold at an average price of $25.09, for a total value of $376,350.00.

ZIM Integrated Shipping Services Trading Up 3.9%

Shares of ZIM opened at $25.47 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.19 and a quick ratio of 1.09. ZIM Integrated Shipping Services Ltd. has a 1 year low of $12.33 and a 1 year high of $29.97. The company has a 50 day simple moving average of $25.97 and a two-hundred day simple moving average of $23.92. The firm has a market cap of $3.07 billion, a P/E ratio of 31.44 and a beta of 1.20.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.48 billion. On average, equities analysts expect 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 business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Friday, March 20th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 13.8%. The ex-dividend date was Friday, March 20th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. ZIM Integrated Shipping Services’s dividend payout ratio is presently 7.41%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hoey Investments Inc. bought a new stake in ZIM Integrated Shipping Services during the fourth quarter worth approximately $25,000. Lodestone Wealth Management LLC purchased a new position in shares of ZIM Integrated Shipping Services in the 4th quarter worth approximately $29,000. Quarry LP bought a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $34,000. Huntington National Bank raised its holdings in ZIM Integrated Shipping Services by 200,000.0% during the 4th quarter. Huntington National Bank now owns 2,001 shares of the company’s stock valued at $42,000 after buying an additional 2,000 shares during the period. Finally, Triumph Capital Management bought a new stake in ZIM Integrated Shipping Services in the third quarter worth $44,000. Institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

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.