Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Down – Here’s What Happened

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares gapped down prior to trading on Monday . The stock had previously closed at $26.33, but opened at $23.60. Grupo Simec shares last traded at $26.00, with a volume of 339 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Grupo Simec from a “buy” rating to a “hold” rating in a research report on Sunday.

Grupo Simec Price Performance

The firm has a market cap of $3.99 billion, a P/E ratio of 7.68 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 position in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. Institutional investors own 0.17% of the company’s stock.

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.