Grupo Simec (NYSEAMERICAN:SIM) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Grupo Simec (NYSEAMERICAN:SIM) from a buy rating to a hold rating in a research report sent to investors on Sunday.

Grupo Simec Trading Down 1.3 %

Grupo Simec stock opened at $26.00 on Friday. Grupo Simec has a 1 year low of $22.15 and a 1 year high of $33.78. The company has a market capitalization of $4.00 billion, a PE ratio of 7.69 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. 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 Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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

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.