Grupo Simec (NYSEAMERICAN:SIM) Sees Unusually-High Trading Volume – Here’s Why

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw unusually-high trading volume on Friday . Approximately 1,731 shares changed hands during trading, an increase of 32% from the previous session’s volume of 1,313 shares.The stock last traded at $25.15 and had previously closed at $26.40.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Grupo Simec from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th.

Grupo Simec Trading Up 4.9 %

The stock has a market capitalization of $3.92 billion, a PE ratio of 7.54 and a beta of 0.29.

Institutional Inflows and Outflows

An institutional investor recently bought a new position 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) in the 4th quarter, according to the company in its most recent filing with the 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.

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.