Short Interest in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) Drops By 33.3%

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 600 shares, a drop of 33.3% from the March 15th total of 900 shares. Based on an average daily volume of 400 shares, the days-to-cover ratio is presently 1.5 days.

Grupo Simec Stock Performance

Shares of NYSEAMERICAN:SIM remained flat at $33.00 during trading on Friday. 78 shares of the stock were exchanged, compared to its average volume of 236. Grupo Simec has a 12 month low of $28.15 and a 12 month high of $38.22. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 18.54 and a beta of 0.36.

Grupo Simec (NYSEAMERICAN:SIM - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The basic materials company reported $0.47 EPS for the quarter. Grupo Simec had a net margin of 12.72% and a return on equity of 10.56%. The company had revenue of $502.89 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Grupo Simec from a "hold" rating to a "buy" rating in a report on Monday, February 12th.

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.

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