Meritage Portfolio Management Takes $3.68 Million Position in Tim S.A. (NYSE:TIMB)

Meritage Portfolio Management bought a new position in shares of Tim S.A. (NYSE:TIMB - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 213,892 shares of the company's stock, valued at approximately $3,683,000.

Other hedge funds have also recently modified their holdings of the company. US Bancorp DE grew its position in shares of TIM by 814.4% during the 1st quarter. US Bancorp DE now owns 22,943 shares of the company's stock valued at $407,000 after purchasing an additional 20,434 shares in the last quarter. Summit Global Investments boosted 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 purchasing an additional 193,996 shares during the period. QRG Capital Management Inc. purchased a new stake in TIM in the first quarter worth about $196,000. Daiwa Securities Group Inc. lifted its holdings in TIM by 69.2% in the second quarter. Daiwa Securities Group Inc. now owns 22,000 shares of the company's stock worth $315,000 after buying an additional 9,000 shares during the period. Finally, Millennium Management LLC lifted its holdings in TIM by 16.0% in the second quarter. Millennium Management LLC now owns 923,532 shares of the company's stock worth $13,225,000 after buying an additional 127,465 shares during the period.

TIM Stock Up 3.2 %

TIM stock traded up $0.44 during trading hours on Monday, reaching $14.35. The stock had a trading volume of 722,581 shares, compared to its average volume of 477,402. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.85. The business's 50 day moving average price is $15.80 and its 200-day moving average price is $15.70. Tim S.A. has a 52 week low of $13.74 and a 52 week high of $19.14.

TIM (NYSE:TIMB - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.09). TIM had a net margin of 12.71% and a return on equity of 11.73%. The company had revenue of $1.16 billion for the quarter. Sell-side analysts anticipate that Tim S.A. will post 1.27 EPS for the current year.

TIM Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Monday, September 30th were paid a $0.088 dividend. This represents a $0.35 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Monday, September 30th. TIM's dividend payout ratio is currently 26.19%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Scotiabank reduced their price target on shares of TIM from $24.80 to $23.20 and set a "sector outperform" rating for the company in a research report on Tuesday, November 5th. Barclays lowered their target price on TIM from $19.00 to $18.00 and set an "equal weight" rating for the company in a research report on Friday, August 2nd.

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.