Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up – Here’s Why

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares gapped up before the market opened on Friday . The stock had previously closed at $24.51, but opened at $26.59. Grupo Simec shares last traded at $25.76, with a volume of 259 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 research note on Friday, November 8th.

Grupo Simec Trading Up 3.5 %

The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 7.51 and a beta of 0.29.

Hedge Funds Weigh In On Grupo Simec

An institutional investor recently bought a new position in Grupo Simec stock. Banco BTG Pactual S.A. bought a new stake in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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.

Grupo Simec Company Profile

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.