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 Wednesday . The stock had previously closed at $24.00, but opened at $25.96. Grupo Simec shares last traded at $25.95, with a volume of 1,662 shares traded.

Grupo Simec Price Performance

The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 7.78 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. bought a new stake in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Free Report) during the fourth quarter, according to the company in its most recent 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 owned by hedge funds and other 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.