Caprock Group LLC Takes $202,000 Position in Tim S.A. (NYSE:TIMB)

Caprock Group LLC bought a new position in shares of Tim S.A. (NYSE:TIMB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,840 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Custom Index Systems LLC bought a new stake in TIM during the 2nd quarter worth about $287,000. Victory Capital Management Inc. boosted its position in TIM by 7.8% during the second quarter. Victory Capital Management Inc. now owns 46,912 shares of the company’s stock valued at $672,000 after purchasing an additional 3,408 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in TIM during the second quarter valued at approximately $8,818,000. Summit Global Investments increased its position in shares of TIM by 147.6% during the 2nd quarter. Summit Global Investments now owns 325,462 shares of the company’s stock worth $4,661,000 after purchasing an additional 193,996 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of TIM by 15.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 36,413 shares of the company’s stock worth $521,000 after purchasing an additional 4,899 shares during the last quarter.

Analyst Ratings Changes

Separately, Barclays cut 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 Stock Up 1.7 %

TIM stock opened at $16.54 on Friday. The firm has a market capitalization of $8.01 billion, a PE ratio of 13.45, a P/E/G ratio of 0.71 and a beta of 0.87. The company’s 50-day moving average is $15.72 and its 200-day moving average is $16.36. Tim S.A. has a fifty-two week low of $13.84 and a fifty-two 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 posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.31 EPS for the quarter. The business had revenue of $1.21 billion during the quarter. TIM had a return on equity of 11.47% and a net margin of 12.53%. Sell-side analysts anticipate that Tim S.A. will post 1.24 earnings per share for the current year.

TIM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Thursday, June 27th were paid a $0.1154 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, June 27th. This is a boost from TIM’s previous quarterly dividend of $0.08. TIM’s dividend payout ratio is 27.64%.

About TIM

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.