Grupo Simec (NYSEAMERICAN:SIM) Shares Down 5% - Time to Sell?

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report)'s stock price dropped 5% during trading on Tuesday . The company traded as low as $26.23 and last traded at $26.23. Approximately 209 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,481 shares. The stock had previously closed at $27.61.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Grupo Simec from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th.

Grupo Simec Price Performance

The company has a fifty day moving average price of $27.24. The firm has a market capitalization of $3.96 billion, a P/E ratio of 7.07 and a beta of 0.16.

Hedge Funds Weigh In On Grupo Simec

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