Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up - Should You Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $24.51, but opened at $26.59. Grupo Simec shares last traded at $25.76, with a volume of 259 shares traded.

Analyst Ratings Changes

Separately, StockNews.com lowered Grupo Simec from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th.

Grupo Simec Stock Performance

The stock has a market capitalization of $4.02 billion, a P/E ratio of 7.73 and a beta of 0.29.

Institutional Trading of Grupo Simec

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 - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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.

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.