Grupo Simec (NYSEAMERICAN:SIM) Sees Large Volume Increase - Here's Why

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report) saw strong trading volume on Wednesday . 834 shares changed hands during mid-day trading, a decline of 25% from the previous session's volume of 1,108 shares.The stock last traded at $25.78 and had previously closed at $25.73.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Grupo Simec from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th.

Grupo Simec Price Performance

The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 7.64 and a beta of 0.29.

Institutional Trading of Grupo Simec

An institutional investor recently bought a new position in Grupo Simec stock. Banco BTG Pactual S.A. bought a new position in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 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.

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.