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 Friday . Approximately 1,013 shares traded hands during mid-day trading, a decline of 3% from the previous session's volume of 1,045 shares.The stock last traded at $29.45 and had previously closed at $27.23.

Analysts Set New Price Targets

Separately, StockNews.com cut Grupo Simec from a "strong-buy" rating to a "buy" rating in a research note on Wednesday.

Grupo Simec Stock Performance

The firm has a market cap of $4.54 billion, a PE ratio of 9.75 and a beta of 0.29.

Grupo Simec (NYSEAMERICAN:SIM - Get Free Report) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $1.39 earnings per share for the quarter. The business had revenue of $487.42 million during the quarter. Grupo Simec had a return on equity of 16.68% and a net margin of 24.90%.

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.