Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) Sees Large Drop in Short Interest

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 1,600 shares, a decline of 40.7% from the June 30th total of 2,700 shares. Based on an average daily trading volume, of 400 shares, the short-interest ratio is presently 4.0 days.

Grupo Simec Stock Performance

Shares of NYSEAMERICAN:SIM remained flat at $28.20 during trading on Friday. The stock had a trading volume of 329 shares, compared to its average volume of 497. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 14.31 and a beta of 0.29. Grupo Simec has a 1-year low of $28.15 and a 1-year high of $37.00.

Grupo Simec (NYSEAMERICAN:SIM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter. The business had revenue of $464.45 million for the quarter. Grupo Simec had a return on equity of 16.68% and a net margin of 24.90%.

Analyst Ratings Changes

Separately, StockNews.com raised Grupo Simec from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

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.