Renaissance Technologies LLC Acquires 142,862 Shares of Tim S.A. (NYSE:TIMB)

Renaissance Technologies LLC lifted its position in shares of Tim S.A. (NYSE:TIMB) by 11.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,364,048 shares of the company’s stock after purchasing an additional 142,862 shares during the quarter. Renaissance Technologies LLC’s holdings in TIM were worth $19,533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC boosted its position in shares of TIM by 105.7% during the second quarter. CWM LLC now owns 2,471 shares of the company’s stock worth $35,000 after buying an additional 1,270 shares during the period. SageView Advisory Group LLC acquired a new position in shares of TIM during the first quarter worth about $54,000. Headlands Technologies LLC acquired a new position in shares of TIM during the first quarter worth about $59,000. Barometer Capital Management Inc. acquired a new position in shares of TIM during the fourth quarter worth about $118,000. Finally, Blue Trust Inc. boosted its position in shares of TIM by 298.2% during the second quarter. Blue Trust Inc. now owns 6,973 shares of the company’s stock worth $100,000 after buying an additional 5,222 shares during the period.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TIMB. Barclays reduced their price objective on TIM from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Scotiabank raised TIM from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $17.50 to $24.80 in a research report on Friday.

TIM Stock Down 0.3 %

Shares of NYSE TIMB opened at $16.95 on Friday. The stock has a 50 day moving average price of $15.92 and a 200 day moving average price of $16.30. Tim S.A. has a 52 week low of $13.84 and a 52 week high of $19.14. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.88 and a quick ratio of 0.85.

TIM (NYSE:TIMB) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter. The firm had revenue of $1.21 billion for the quarter. TIM had a return on equity of 11.47% and a net margin of 12.53%. Equities analysts forecast that Tim S.A. will post 1.24 earnings per share for the current year.

TIM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.088 per share. The ex-dividend date is Monday, September 30th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.08%. TIM’s dividend payout ratio (DPR) is currently 27.64%.

TIM Company Profile

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.