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

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares gapped up before the market opened on Tuesday . The stock had previously closed at $26.70, but opened at $27.62. Grupo Simec shares last traded at $26.93, with a volume of 1,159 shares.

Analysts Set New Price Targets

Separately, StockNews.com cut Grupo Simec from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th.

Grupo Simec Price Performance

The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 7.97 and a beta of 0.29. The company’s fifty day moving average price is $26.70.

Institutional Inflows and Outflows

An institutional investor recently bought a new position 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 fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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.

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.