Grupo Simec (NYSEAMERICAN:SIM) Upgraded by StockNews.com to Buy Rating

Grupo Simec (NYSEAMERICAN:SIM - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Thursday.

Grupo Simec Trading Up 8.0 %

Grupo Simec stock traded up $2.00 during mid-day trading on Thursday, reaching $27.00. The company's stock had a trading volume of 1,221 shares, compared to its average volume of 1,546. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 7.99 and a beta of 0.29. Grupo Simec has a 12-month low of $22.15 and a 12-month high of $33.78.

Institutional Investors Weigh In On Grupo Simec

An institutional investor recently bought a new position in Grupo Simec stock. Banco BTG Pactual S.A. purchased a new position in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 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.

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.