Grupo Simec (NYSEAMERICAN:SIM) Sees Large Volume Increase – Here’s Why

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw unusually-high trading volume on Tuesday . 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.

Analysts Set New Price Targets

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

Grupo Simec Trading Down 5.4 %

The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 7.65 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. bought a new position in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

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.