Grupo Simec (NYSEAMERICAN:SIM) Stock Price Down 3.7% - Here's Why

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report)'s share price dropped 3.7% during mid-day trading on Wednesday . The company traded as low as $25.78 and last traded at $25.00. Approximately 451 shares changed hands during trading, a decline of 71% from the average daily volume of 1,540 shares. The stock had previously closed at $25.96.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Grupo Simec from a "buy" rating to a "hold" rating in a report on Sunday, April 6th.

Grupo Simec Trading Down 2.9 %

The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 7.40 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. acquired a new position in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 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.

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.