Zacks Investment Research Downgrades Grupo Simec SAB de CV (NYSEAMERICAN:SIM) to Strong Sell

Grupo Simec SAB de CV (NYSEAMERICAN:SIM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, September 12th.

According to Zacks, “Grupo Simec, S.A, de C.V. is the leading mini-mill steel producer in Mexico and manufactures a broad range of non-flat structural steel products and is also among Mexico’s lowest cost producers of extruded aluminum products. “

Separately, TheStreet upgraded shares of Grupo Simec SAB de CV from a “c” rating to a “b-” rating in a report on Tuesday, July 24th.

NYSEAMERICAN:SIM traded up $0.06 on Wednesday, reaching $9.34. The stock had a trading volume of 500 shares, compared to its average volume of 3,995. Grupo Simec SAB de CV has a 1-year low of $8.20 and a 1-year high of $10.90.

Grupo Simec SAB de CV (NYSEAMERICAN:SIM) last released its quarterly earnings results on Monday, July 23rd. The basic materials company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.11). Grupo Simec SAB de CV had a negative net margin of 14.51% and a negative return on equity of 9.90%. The firm had revenue of $469.19 million during the quarter.

A hedge fund recently raised its stake in Grupo Simec SAB de CV stock. Renaissance Technologies LLC raised its position in Grupo Simec SAB de CV (NYSEAMERICAN:SIM) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 235,600 shares of the basic materials company’s stock after purchasing an additional 8,800 shares during the period. Renaissance Technologies LLC owned approximately 0.14% of Grupo Simec SAB de CV worth $2,236,000 as of its most recent filing with the SEC. 0.24% of the stock is currently owned by institutional investors.

About Grupo Simec SAB de CV

Grupo Simec, SAB. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and structural steel products in the United States, Mexico, Canada, and Brazil. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold finished bars, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products.

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