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

Grupo Simec (NYSEAMERICAN:SIM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Grupo Simec Price Performance

Grupo Simec stock opened at $27.00 on Tuesday. The stock has a market cap of $4.16 billion, a P/E ratio of 7.99 and a beta of 0.29. The stock has a 50 day moving average of $26.57. Grupo Simec has a twelve month low of $22.15 and a twelve month high of $33.78.

Institutional Trading of Grupo Simec

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. bought a new stake in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. 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.