StockNews.com Downgrades Grupo Simec (NYSEAMERICAN:SIM) to Hold

Grupo Simec (NYSEAMERICAN:SIM) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Grupo Simec Stock Up 6.7 %

Shares of NYSEAMERICAN SIM opened at $28.00 on Wednesday. Grupo Simec has a fifty-two week low of $22.15 and a fifty-two week high of $33.78. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 8.28 and a beta of 0.29.

Hedge Funds Weigh In On Grupo Simec

An institutional investor recently bought a new position in Grupo Simec stock. Banco BTG Pactual S.A. purchased a new position in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 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.