Grupo Simec (NYSEAMERICAN:SIM) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Grupo Simec (NYSEAMERICAN:SIM) from a buy rating to a hold rating in a research note published on Tuesday morning.

Grupo Simec Stock Performance

NYSEAMERICAN SIM opened at $27.31 on Tuesday. The firm has a market cap of $4.20 billion, a P/E ratio of 8.08 and a beta of 0.29. The firm has a 50-day moving average price of $26.55. Grupo Simec has a 1-year low of $22.15 and a 1-year high of $33.78.

Hedge Funds Weigh In On Grupo Simec

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. acquired a new stake in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 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.

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.