Grupo Simec (NYSEAMERICAN:SIM) Downgraded by StockNews.com to "Hold"

Grupo Simec (NYSEAMERICAN:SIM - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Wednesday.

Grupo Simec Stock Performance

NYSEAMERICAN:SIM traded up $1.47 on Wednesday, reaching $27.70. 342 shares of the stock traded hands, compared to its average volume of 1,530. The firm has a market cap of $4.26 billion, a P/E ratio of 8.20 and a beta of 0.29. Grupo Simec has a 12 month low of $22.15 and a 12 month high of $33.78.

Institutional Investors Weigh In On Grupo Simec

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. bought a new stake in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 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.

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.