Grupo Simec (NYSEAMERICAN:SIM) Trading 6.7% Higher - Here's Why

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report)'s stock price traded up 6.7% during trading on Tuesday . The stock traded as high as $28.00 and last traded at $27.99. 342 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 1,527 shares. The stock had previously closed at $26.23.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Grupo Simec from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th.

Grupo Simec Price Performance

The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 8.21 and a beta of 0.29. The business has a fifty day moving average of $26.46.

Institutional Trading of Grupo Simec

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. acquired a new position in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,899 shares of the basic materials company's stock, valued at approximately $212,000. 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.