Renaissance Technologies LLC Purchases 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 second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,364,048 shares of the company’s stock after acquiring an additional 142,862 shares during the quarter. Renaissance Technologies LLC’s holdings in TIM were worth $19,533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TIMB. CWM LLC raised 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 acquiring an additional 1,270 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of TIM during the first quarter worth $54,000. Headlands Technologies LLC bought a new stake in shares of TIM during the first quarter worth $59,000. Blue Trust Inc. raised 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 acquiring an additional 5,222 shares during the last quarter. Finally, Barometer Capital Management Inc. bought a new stake in shares of TIM during the fourth quarter worth $118,000.

Analyst Ratings Changes

A number of equities research analysts recently commented on TIMB shares. Scotiabank upgraded TIM from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $17.50 to $24.80 in a report on Friday. Barclays dropped their price objective on TIM from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd.

TIM Trading Down 0.3 %

NYSE TIMB opened at $16.95 on Friday. The stock has a 50-day simple moving average of $15.92 and a 200 day simple moving average of $16.30. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.52. Tim S.A. has a 12 month low of $13.84 and a 12 month high of $19.14.

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

TIM Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be issued a $0.088 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.35 annualized dividend 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.