ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Down 4.6% – Time to Sell?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares dropped 4.6% during mid-day trading on Monday . The stock traded as low as $22.32 and last traded at $22.69. Approximately 1,315,558 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 6,125,721 shares. The stock had previously closed at $23.78.

Analyst Ratings Changes

ZIM has been the subject of a number of recent research reports. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Bank of America boosted their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Finally, Barclays increased their target price on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research report on Monday. Five analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.74.

ZIM Integrated Shipping Services Price Performance

The stock has a market capitalization of $2.54 billion, a PE ratio of 1.77, a P/E/G ratio of 0.05 and a beta of 1.88. 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 company’s fifty day simple moving average is $22.88 and its two-hundred day simple moving average is $20.63.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a $2.81 dividend. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a dividend yield of 53.27%. The ex-dividend date of this dividend is Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio is currently 9.72%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in shares of ZIM Integrated Shipping Services by 2,228.7% during the third quarter. International Assets Investment Management LLC now owns 402,862 shares of the company’s stock valued at $10,337,000 after buying an additional 385,562 shares during the period. Quantbot Technologies LP lifted its stake in shares of ZIM Integrated Shipping Services by 9,573.0% during the 3rd quarter. Quantbot Technologies LP now owns 370,477 shares of the company’s stock worth $9,506,000 after purchasing an additional 366,647 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the second quarter worth $2,343,000. SG Americas Securities LLC grew its position in shares of ZIM Integrated Shipping Services by 1,226.7% in the third quarter. SG Americas Securities LLC now owns 343,581 shares of the company’s stock valued at $8,816,000 after purchasing an additional 317,684 shares during the period. Finally, Clear Harbor Asset Management LLC increased its stake in ZIM Integrated Shipping Services by 337.7% in the third quarter. Clear Harbor Asset Management LLC now owns 51,450 shares of the company’s stock valued at $1,320,000 after purchasing an additional 39,695 shares during the last quarter. 21.42% of the stock is owned by institutional investors and hedge funds.

ZIM Integrated Shipping Services Company 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.