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

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report) saw strong trading volume on Tuesday . 2,558 shares traded hands during trading, an increase of 72% from the previous session's volume of 1,487 shares.The stock last traded at $27.46 and had previously closed at $27.14.

Analysts Set New Price Targets

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

Grupo Simec Stock Performance

The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 8.42 and a beta of 0.29. The business has a 50-day moving average of $27.12.

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 position in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

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.

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