Insider Selling: ZIM Integrated Shipping Services (NYSE:ZIM) EVP Sells 20,000 Shares of Stock

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) EVP Saar Dotan sold 20,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $24.63, for a total value of $492,600.00. Following the completion of the sale, the executive vice president owned 131,667 shares in the company, valued at $3,242,958.21. This trade represents a 13.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

ZIM Integrated Shipping Services Trading Up 1.8%

Shares of ZIM Integrated Shipping Services stock traded up $0.45 on Tuesday, hitting $25.14. 1,550,762 shares of the company’s stock traded hands, compared to its average volume of 1,530,839. ZIM Integrated Shipping Services Ltd. has a one year low of $12.33 and a one year high of $29.97. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.19 and a quick ratio of 1.09. The company has a fifty day moving average of $26.03 and a two-hundred day moving average of $23.73. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 30.88 and a beta of 1.26.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced 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 net margin of 1.56% and a negative return on equity of 0.26%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post -7.24 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Friday, March 20th were paid a dividend of $0.88 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, March 20th. This represents a $3.52 dividend on an annualized basis and a yield of 14.0%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 7.41%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

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

Wall Street Analysts Forecast Growth

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

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.