Teacher Retirement System of Texas Grows Stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Teacher Retirement System of Texas increased its stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 32.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,557 shares of the company’s stock after purchasing an additional 23,144 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.08% of ZIM Integrated Shipping Services worth $2,030,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of ZIM Integrated Shipping Services by 59.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after buying an additional 674,723 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in ZIM Integrated Shipping Services by 39.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,389,034 shares of the company’s stock worth $29,823,000 after buying an additional 393,215 shares during the period. Decker Retirement Planning Inc. purchased a new position in shares of ZIM Integrated Shipping Services in the fourth quarter valued at $5,509,000. Verition Fund Management LLC increased its position in shares of ZIM Integrated Shipping Services by 2,171.6% during the third quarter. Verition Fund Management LLC now owns 208,057 shares of the company’s stock valued at $5,339,000 after buying an additional 198,898 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in ZIM Integrated Shipping Services by 1,129.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 161,440 shares of the company’s stock worth $3,466,000 after purchasing an additional 148,306 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ZIM. Barclays lowered their price target on ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a report on Monday, March 17th. JPMorgan Chase & Co. reduced their target price on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 12th. Five 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.54.

ZIM Integrated Shipping Services Stock Performance

ZIM Integrated Shipping Services stock opened at $15.41 on Friday. ZIM Integrated Shipping Services Ltd. has a 1-year low of $9.75 and a 1-year high of $30.15. The firm has a market cap of $1.85 billion, a P/E ratio of 1.29, a P/E/G ratio of 0.27 and a beta of 1.70. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average of $18.69 and a 200-day moving average of $20.52.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, topping the consensus estimate of $3.47 by $1.19. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th will be given a dividend of $3.17 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. This represents a $12.68 dividend on an annualized basis and a yield of 82.31%. The ex-dividend date of this dividend is Monday, March 24th. ZIM Integrated Shipping Services’s payout ratio is presently 6.51%.

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.