Grupo Simec (NYSEAMERICAN:SIM) Sees Large Volume Increase – What’s Next?

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw strong trading volume on Tuesday . 1,159 shares were traded during mid-day trading, a decline of 25% from the previous session’s volume of 1,537 shares.The stock last traded at $26.00 and had previously closed at $26.00.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Grupo Simec from a “buy” rating to a “hold” rating in a research note on Sunday.

Grupo Simec Price Performance

The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 7.69 and a beta of 0.29.

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) in the 4th quarter, according to the company in 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 owned by institutional investors and hedge funds.

About Grupo Simec

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.