Grupo Simec (NYSEAMERICAN:SIM) Sees Large Volume Increase - Still a Buy?

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 1,159 shares traded hands during 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Grupo Simec from a "buy" rating to a "hold" rating in a report on Sunday, April 6th.

Grupo Simec Price Performance

The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 7.62 and a beta of 0.29.

Institutional Investors Weigh In On Grupo Simec

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

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.