Mitsubishi UFJ Trust & Banking Corp Sells 206,629 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Mitsubishi UFJ Trust & Banking cut its ZIM stake by 87.3% in the second quarter, selling 206,629 shares and retaining 30,117 shares worth approximately $783,000.
• ZIM shares opened at $28.15, up 5.0%, near their 52-week high of $29.97. The company’s latest quarterly results missed expectations, with a $0.72 loss per share versus the $0.22 consensus loss and revenue below estimates.
• Analyst opinions remain mixed, producing a consensus “Hold” rating and average price target of $19.33, despite some firms raising targets and Zacks upgrading the stock to “Strong Buy.”

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 87.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,117 shares of the company's stock after selling 206,629 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in ZIM Integrated Shipping Services were worth $783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hoey Investments Inc. purchased a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at approximately $25,000. Quarry LP bought a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at approximately $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 purchasing an additional 2,000 shares during the period. Larson Financial Group LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 158.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,256 shares of the company's stock worth $44,000 after purchasing an additional 1,998 shares during the period. Finally, Triumph Capital Management bought a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 21.42% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ZIM. JPMorgan Chase & Co. increased their price target on ZIM Integrated Shipping Services from $9.00 to $16.50 and gave the company an "underweight" rating in a report on Tuesday, June 30th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ZIM Integrated Shipping Services in a research note on Friday, June 5th. Barclays boosted their price objective on shares of ZIM Integrated Shipping Services from $14.50 to $17.00 and gave the company an "underweight" rating in a research report on Tuesday, June 30th. Finally, Zacks Research raised shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $19.33.

ZIM Integrated Shipping Services Trading Up 5.0%

Shares of NYSE ZIM opened at $28.15 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.19. The business's 50 day moving average price is $25.20 and its 200-day moving average price is $25.61. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $12.33 and a fifty-two week high of $29.97. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 34.76 and a beta of 1.21.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.50). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.48 billion. ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%. On average, sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 3.15 earnings per share for the current year.

Insider Buying and Selling at ZIM Integrated Shipping Services

In other news, EVP Saar Dotan sold 11,000 shares of ZIM Integrated Shipping Services stock in a transaction on Friday, June 12th. The stock was sold at an average price of $26.11, for a total transaction of $287,210.00. Following the completion of the sale, the executive vice president directly owned 90,667 shares in the company, valued at approximately $2,367,315.37. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 61,000 shares of company stock worth $1,537,310 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

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.

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