Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Down - Should You Sell?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $27.00, but opened at $26.23. Grupo Simec shares last traded at $26.25, with a volume of 438 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com cut Grupo Simec from a "buy" rating to a "hold" rating in a report on Wednesday.

Grupo Simec Stock Performance

The company has a market capitalization of $4.10 billion, a P/E ratio of 7.88 and a beta of 0.29.

Hedge Funds Weigh In On Grupo Simec

An institutional investor recently bought a new position in Grupo Simec stock. Banco BTG Pactual S.A. bought a new stake in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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.