Grupo Simec (NYSEAMERICAN:SIM) Rating Increased to Buy at StockNews.com

Grupo Simec (NYSEAMERICAN:SIM) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Grupo Simec Trading Up 11.2 %

SIM stock traded up $2.79 during midday trading on Thursday, hitting $27.79. The company’s stock had a trading volume of 477 shares, compared to its average volume of 1,957. Grupo Simec has a 12 month low of $22.15 and a 12 month high of $33.78. The stock has a market capitalization of $4.28 billion, a PE ratio of 8.22 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. bought a new stake in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. 0.17% of the stock is currently owned by institutional investors and hedge funds.

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.