Grupo Simec (NYSEAMERICAN:SIM) Sees Unusually-High Trading Volume – Here’s Why

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw unusually-strong trading volume on Friday . Approximately 1,731 shares changed hands during mid-day trading, an increase of 32% from the previous session’s volume of 1,313 shares.The stock last traded at $25.15 and had previously closed at $26.40.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Grupo Simec from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th.

Grupo Simec Price Performance

The stock has a market capitalization of $3.92 billion, a PE ratio of 7.54 and a beta of 0.29.

Institutional Investors Weigh In On Grupo Simec

An institutional investor recently bought a new position in Grupo Simec stock. Banco BTG Pactual S.A. acquired a new stake in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. 0.17% of the stock is currently owned by institutional investors and hedge funds.

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.