Quantbot Technologies LP Raises Stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Quantbot Technologies LP grew its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 9,573.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 370,477 shares of the company’s stock after buying an additional 366,647 shares during the period. Quantbot Technologies LP’s holdings in ZIM Integrated Shipping Services were worth $9,506,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Fairman Group LLC purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of ZIM Integrated Shipping Services in the third quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 period. Russell Investments Group Ltd. lifted its holdings in shares of ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after purchasing an additional 5,667 shares during the period. Finally, American Capital Advisory LLC purchased a new position in ZIM Integrated Shipping Services in the 3rd quarter valued at $69,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Trading Down 6.5 %

Shares of ZIM Integrated Shipping Services stock opened at $22.24 on Tuesday. The company has a 50-day moving average of $22.85 and a two-hundred day moving average of $20.60. The stock has a market cap of $2.68 billion, a PE ratio of 1.86, a price-to-earnings-growth ratio of 0.05 and a beta of 1.88. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. ZIM Integrated Shipping Services Ltd. has a 12-month low of $6.39 and a 12-month high of $30.15.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be issued a dividend of $2.81 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a yield of 50.54%. ZIM Integrated Shipping Services’s payout ratio is currently 9.72%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZIM. Barclays raised their target price on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a research note on Monday. Jefferies Financial Group reiterated a “hold” rating and set a $25.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, November 20th. Bank of America raised their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday. Finally, Fearnley Fonds cut ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.