Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up – Time to Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $24.00, but opened at $25.96. Grupo Simec shares last traded at $25.95, with a volume of 1,662 shares changing hands.

Grupo Simec Price Performance

The stock has a market capitalization of $3.97 billion, a P/E ratio of 7.63 and a beta of 0.29.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. purchased a new stake in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 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.

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.