Renaissance Technologies LLC Buys 283,002 Shares of Tim S.A. (NYSE:TIMB)

Renaissance Technologies LLC increased its stake in Tim S.A. (NYSE:TIMB) by 19.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,718,588 shares of the company’s stock after purchasing an additional 283,002 shares during the quarter. Renaissance Technologies LLC’s holdings in TIM were worth $20,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in TIM in the third quarter valued at $25,000. Stifel Financial Corp lifted its stake in TIM by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 85,050 shares of the company’s stock valued at $1,465,000 after purchasing an additional 822 shares during the last quarter. State Street Corp grew its holdings in TIM by 16.7% during the third quarter. State Street Corp now owns 583,724 shares of the company’s stock worth $10,207,000 after purchasing an additional 83,468 shares during the period. Jane Street Group LLC acquired a new position in TIM during the third quarter worth approximately $215,000. Finally, Public Employees Retirement System of Ohio bought a new stake in TIM in the third quarter valued at approximately $1,089,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TIMB. Scotiabank decreased their target price on TIM from $23.20 to $17.60 and set a “sector outperform” rating on the stock in a report on Wednesday, February 12th. Barclays upped their price objective on shares of TIM from $16.00 to $16.50 and gave the company an “equal weight” rating in a report on Monday, March 17th. Finally, The Goldman Sachs Group cut their target price on shares of TIM from $16.20 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th.

TIM Stock Performance

Shares of NYSE TIMB opened at $14.84 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.67 and a beta of 0.53. The stock’s fifty day moving average price is $14.78 and its two-hundred day moving average price is $14.05. Tim S.A. has a one year low of $11.32 and a one year high of $18.39.

TIM (NYSE:TIMB) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). TIM had a net margin of 12.24% and a return on equity of 11.91%. On average, equities analysts forecast that Tim S.A. will post 1.34 EPS for the current year.

TIM Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, October 30th. Stockholders of record on Friday, April 11th will be given a $0.2288 dividend. This represents a dividend yield of 5.73%. This is an increase from TIM’s previous dividend of $0.08. The ex-dividend date is Thursday, April 10th. TIM’s payout ratio is presently 65.25%.

TIM 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.