Summit Global Investments boosted its position in Tim S.A. (NYSE:TIMB – Free Report) by 68.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,868 shares of the company’s stock after purchasing an additional 28,428 shares during the period. Summit Global Investments’ holdings in TIM were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in TIMB. Capital Wealth Planning LLC bought a new stake in TIM in the third quarter worth about $617,000. Penserra Capital Management LLC bought a new stake in TIM in the third quarter worth about $617,000. Boston Partners bought a new stake in TIM in the third quarter worth about $544,000. O Shaughnessy Asset Management LLC lifted its stake in TIM by 62.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 73,795 shares of the company’s stock worth $1,100,000 after purchasing an additional 28,443 shares during the last quarter. Finally, Qtron Investments LLC boosted its holdings in shares of TIM by 36.2% in the third quarter. Qtron Investments LLC now owns 73,695 shares of the company’s stock valued at $1,098,000 after purchasing an additional 19,591 shares during the period.
TIM Price Performance
TIM stock traded up $0.51 during mid-day trading on Friday, reaching $18.20. 593,897 shares of the company were exchanged, compared to its average volume of 386,371. The business has a fifty day moving average of $17.87 and a 200 day moving average of $17.64. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.52. Tim S.A. has a 12-month low of $13.17 and a 12-month high of $19.14.
TIM Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 1st were given a $0.064 dividend. This represents a $0.26 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Thursday, March 28th. TIM’s payout ratio is 55.93%.
Wall Street Analyst Weigh In
Separately, Barclays boosted their price target on TIM from $19.50 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, February 14th.
Read Our Latest Stock Analysis on TIM
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.
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