Grupo Simec (NYSEAMERICAN:SIM) Stock Price Down 5% - What's Next?

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

Analysts Set New Price Targets

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

Grupo Simec Stock Down 4.3%

The company has a market cap of $4.07 billion, a P/E ratio of 7.26 and a beta of 0.16. The business has a 50-day simple moving average of $27.24.

Institutional Trading of Grupo Simec

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. bought a new position in shares of Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,899 shares of the basic materials company's stock, valued at approximately $212,000. 0.17% of the stock is owned by institutional investors and hedge funds.

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.