Grupo Simec (NYSEAMERICAN:SIM) Cut to "Hold" at StockNews.com
Grupo Simec (NYSEAMERICAN:SIM) has been downgraded from a "buy" to a "hold" rating by StockNews.com. The stock opened at $27.31, up 2.3%, with a market cap of $4.20 billion and a P/E ratio of 8.08. Recently, Banco BTG Pactual S.A. acquired 7,899 shares of Grupo Simec, valued at approximately $212,000. The company specializes in manufacturing and distributing steel products across various regions.
Grupo Simec (NYSEAMERICAN:SIM - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday.
Grupo Simec Stock Up 2.3%
SIM stock opened at $27.31 on Tuesday. The company has a market cap of $4.20 billion, a P/E ratio of 8.08 and a beta of 0.29. Grupo Simec has a 1-year low of $22.15 and a 1-year high of $33.78. The business has a 50 day simple moving average of $26.55.
Hedge Funds 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) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,899 shares of the basic materials company's stock, valued at approximately $212,000. 0.17% of the stock is owned by institutional investors and hedge funds.
About Grupo Simec
(Get Free Report)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.
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