Grupo Simec (NYSEAMERICAN:SIM) Sees Strong Trading Volume – Still a Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares saw unusually-strong trading volume on Wednesday . Approximately 1,346 shares traded hands during trading, a decline of 8% from the previous session’s volume of 1,471 shares.The stock last traded at $26.83 and had previously closed at $27.40.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Grupo Simec from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th.

Grupo Simec Trading Up 0.2%

The stock has a fifty day moving average price of $26.95. The firm has a market capitalization of $4.23 billion, a PE ratio of 8.12 and a beta of 0.29.

Institutional Investors Weigh In On Grupo Simec

An institutional investor recently bought a new position in Grupo Simec stock. Banco BTG Pactual S.A. purchased a new stake in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. Hedge funds and other institutional investors own 0.17% of the company’s stock.

Grupo Simec Company Profile

Grupo Simec, SAB. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and steel alloys products in Mexico, the United States, Brazil, Canada, Latin America, and internationally. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold-finished bars, electro-welded wire mesh and mesh panels, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products.