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

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares saw strong trading volume on Friday . 1,159 shares changed hands during mid-day trading, a decline of 23% from the previous session’s volume of 1,510 shares.The stock last traded at $27.46 and had previously closed at $26.70.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Grupo Simec from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th.

Grupo Simec Stock Performance

The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 8.05 and a beta of 0.29. The business has a 50-day moving average of $26.68.

Institutional Investors 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 shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) in the 4th quarter, according to its most recent 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 owned by hedge funds and other institutional investors.

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.