Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up – Time to Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares gapped up prior to trading on Wednesday . The stock had previously closed at $26.70, but opened at $27.62. Grupo Simec shares last traded at $27.96, with a volume of 946 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com lowered Grupo Simec from a “buy” rating to a “hold” rating in a research report on Tuesday.

Grupo Simec Trading Up 4.6%

The stock has a market cap of $4.30 billion, a PE ratio of 8.26 and a beta of 0.29. The stock’s 50 day moving average is $26.65.

Institutional Inflows and Outflows

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.B. de C.V. (NYSEAMERICAN:SIM) during the 4th quarter, according to its most recent Form 13F filing with the 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 currently 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.