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

Shares of Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report) gapped down before the market opened 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 Ratings Changes

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

Grupo Simec Price Performance

The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 7.08 and a beta of 0.16. The stock's 50 day moving average is $27.24.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Grupo Simec stock. Banco BTG Pactual S.A. bought a new stake in Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the 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.

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