Grupo Simec (NYSEAMERICAN:SIM) Sees Large Volume Increase - Here's Why

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 1,159 shares traded hands during mid-day trading, a decline of 21% from the previous session's volume of 1,472 shares.The stock last traded at $27.61 and had previously closed at $26.70.

Analyst Upgrades and Downgrades

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 Price Performance

The stock's fifty day simple moving average is $26.88. The stock has a market capitalization of $4.23 billion, a PE ratio of 8.12 and a beta of 0.29.

Institutional Trading of 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 - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 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.

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.