Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up - What's Next?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $24.30, but opened at $24.90. Grupo Simec shares last traded at $26.30, with a volume of 2,121 shares traded.

Grupo Simec Stock Performance

The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 7.10 and a beta of 0.29.

Hedge Funds Weigh In On 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 the company in its most recent filing with the SEC. The fund bought 7,899 shares of the basic materials company's stock, valued at approximately $212,000. Hedge funds and other 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.