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

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $25.00, but opened at $27.00. Grupo Simec shares last traded at $28.50, with a volume of 1,221 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Grupo Simec from a "buy" rating to a "hold" rating in a research note on Wednesday.

Grupo Simec Trading Up 1.5 %

The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 7.88 and a beta of 0.29.

Institutional Investors Weigh In On Grupo Simec

An institutional investor recently bought a new position 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.