Grupo Simec (NYSEAMERICAN:SIM) Sees Large Volume Increase – Still a Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares saw strong trading volume on Thursday . 3,451 shares traded hands during mid-day trading, an increase of 170% from the previous session’s volume of 1,277 shares.The stock last traded at $26.00 and had previously closed at $26.40.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Grupo Simec from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th.

Grupo Simec Stock Up 2.6 %

The company has a market capitalization of $4.09 billion, a P/E ratio of 7.86 and a beta of 0.29.

Institutional Trading of Grupo Simec

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. purchased a new position in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. 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.