Grupo Simec (NYSEAMERICAN:SIM) Sees Large Volume Increase – Still a Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw unusually-high trading volume on Thursday . Approximately 1,462 shares traded hands during mid-day trading, a decline of 3% from the previous session’s volume of 1,501 shares.The stock last traded at $25.44 and had previously closed at $25.65.

Grupo Simec Trading Up 1.2 %

The company has a market capitalization of $3.99 billion, a P/E ratio of 7.68 and a beta of 0.29.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. acquired a new stake in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. Hedge funds and other institutional investors 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.