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

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) 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.

Wall Street Analysts Forecast Growth

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

Grupo Simec Trading Down 5.4 %

The firm has a market capitalization of $3.98 billion, a P/E ratio of 7.65 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. acquired a new position in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. Institutional investors and hedge funds 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.