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

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) gapped down before the market opened on Monday . The stock had previously closed at $25.85, but opened at $24.00. Grupo Simec shares last traded at $25.00, with a volume of 738 shares traded.

Analyst Ratings Changes

Separately, StockNews.com downgraded Grupo Simec from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th.

Grupo Simec Stock Performance

The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 7.40 and a beta of 0.29.

Institutional Inflows and Outflows

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