Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Down - Here's Why

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $27.61, but opened at $26.23. Grupo Simec shares last traded at $25.76, with a volume of 209 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered 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 stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 7.26 and a beta of 0.16. The company's 50-day moving average is $27.22.

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 shares of Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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.

About Grupo Simec

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.