Grupo Simec (NYSEAMERICAN:SIM) Sees Unusually-High Trading Volume – Still a Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw unusually-strong trading volume on Thursday . Approximately 1,462 shares traded hands during trading, a decline of 3% from the previous session’s volume of 1,501 shares.The stock last traded at $25.44 and had previously closed at $25.65.

Grupo Simec Stock Up 1.2 %

The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 7.68 and a beta of 0.29.

Hedge Funds Weigh In On Grupo Simec

An institutional investor recently bought a new position in Grupo Simec stock. Banco BTG Pactual S.A. bought a new position in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. 0.17% of the stock is owned by hedge funds and other institutional investors.

About Grupo Simec

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.