Grupo Simec (NYSEAMERICAN:SIM) Sees Large Volume Increase - Should You Buy?

Shares of Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 2,558 shares changed hands during mid-day 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 cut Grupo Simec from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th.

Grupo Simec Trading Down 5.0%

The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 7.59 and a beta of 0.16. The stock has a 50-day simple moving average of $27.19.

Institutional Inflows and Outflows

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. de C.V. (NYSEAMERICAN:SIM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,899 shares of the basic materials company's stock, valued at approximately $212,000. 0.17% of the stock is currently 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.