Victory Capital Management Inc. Purchases 3,408 Shares of Tim S.A. (NYSE:TIMB)

Victory Capital Management Inc. raised its position in shares of Tim S.A. (NYSE:TIMB) by 7.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,912 shares of the company’s stock after acquiring an additional 3,408 shares during the period. Victory Capital Management Inc.’s holdings in TIM were worth $672,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Crossmark Global Holdings Inc. acquired a new position in shares of TIM during the 2nd quarter worth about $8,818,000. Summit Global Investments lifted its holdings in shares of TIM by 147.6% during the second quarter. Summit Global Investments now owns 325,462 shares of the company’s stock worth $4,661,000 after buying an additional 193,996 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of TIM by 15.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 36,413 shares of the company’s stock valued at $521,000 after acquiring an additional 4,899 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of TIM by 10.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 119,298 shares of the company’s stock worth $1,708,000 after acquiring an additional 11,150 shares during the last quarter. Finally, Blue Trust Inc. increased its position in 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 period.

TIM Stock Down 0.3 %

TIMB opened at $16.95 on Friday. The stock’s 50 day simple moving average is $15.92 and its 200-day simple moving average is $16.30. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.85 and a current ratio of 0.88. Tim S.A. has a 1 year low of $13.84 and a 1 year high of $19.14.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.31 earnings per share for the quarter. TIM had a net margin of 12.53% and a return on equity of 11.47%. The firm had revenue of $1.21 billion for 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 announced a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be paid a $0.088 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.35 dividend on an annualized basis and a yield of 2.08%. TIM’s payout ratio is currently 27.64%.

Analyst Ratings Changes

A number of analysts have weighed in on TIMB shares. Barclays reduced their price target on shares of TIM from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Scotiabank upgraded shares of TIM from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $17.50 to $24.80 in a research note on Friday.

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.