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

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $27.61, but opened at $26.23. Grupo Simec shares last traded at $26.95, with a volume of 184 shares trading hands.

Analyst Ratings Changes

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

Grupo Simec Stock Performance

The company has a market cap of $4.08 billion, a price-to-earnings ratio of 7.29 and a beta of 0.16. The stock has a 50-day moving average of $27.19.

Institutional Trading of Grupo Simec

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. purchased a new position in shares of Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Free Report) in the 4th quarter, according to its most recent filing 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 currently owned by institutional investors.

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.