Rhumbline Advisers Trims Position in TIM S.A. Sponsored ADR (NYSE:TIMB)

Rhumbline Advisers cut its holdings in shares of TIM S.A. Sponsored ADR (NYSE:TIMB) by 75.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,601 shares of the company’s stock after selling 14,025 shares during the quarter. Rhumbline Advisers’ holdings in TIM were worth $72,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC grew its stake in shares of TIM by 1,005.0% during the 4th quarter. Global Retirement Partners LLC now owns 2,431 shares of the company’s stock worth $29,000 after purchasing an additional 2,211 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of TIM during the 4th quarter worth approximately $500,000. US Bancorp DE grew its stake in shares of TIM by 78.9% during the 4th quarter. US Bancorp DE now owns 38,162 shares of the company’s stock worth $449,000 after purchasing an additional 16,832 shares during the period. Brandes Investment Partners LP grew its stake in shares of TIM by 127.4% during the 4th quarter. Brandes Investment Partners LP now owns 144,814 shares of the company’s stock worth $1,703,000 after purchasing an additional 81,136 shares during the period. Finally, Natixis Advisors LLC acquired a new stake in shares of TIM during the 4th quarter worth approximately $319,000.

TIM Price Performance

TIM stock opened at $19.57 on Friday. The company’s fifty day moving average price is $17.51 and its 200 day moving average price is $15.04. TIM S.A. Sponsored ADR has a 1 year low of $11.32 and a 1 year high of $19.73. The stock has a market capitalization of $9.48 billion, a P/E ratio of 15.66, a P/E/G ratio of 0.85 and a beta of 0.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.86 and a current ratio of 0.88.

TIM (NYSE:TIMB) last announced its earnings results on Monday, May 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. TIM had a net margin of 13.30% and a return on equity of 13.17%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $6.38 billion. As a group, equities research analysts anticipate that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current fiscal year.

TIM Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a yield of 7.6%. TIM’s dividend payout ratio (DPR) is presently 68.80%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TIMB shares. Barclays set a $17.50 price objective on shares of TIM in a research note on Wednesday, May 7th. Wall Street Zen cut shares of TIM from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 15th. Hsbc Global Res cut shares of TIM from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 12th. The Goldman Sachs Group lifted their price target on shares of TIM from $15.30 to $16.90 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Finally, HSBC cut shares of TIM to a “hold” rating in a research note on Friday, June 13th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.33.

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.