Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Down – What’s Next?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares gapped down before the market opened on Friday . The stock had previously closed at $25.93, but opened at $25.07. Grupo Simec shares last traded at $25.22, with a volume of 861 shares traded.

Wall Street Analyst Weigh In

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

Grupo Simec Stock Performance

The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 7.62 and a beta of 0.29.

Institutional Investors Weigh In On Grupo Simec

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) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.