Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up – What’s Next?

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) gapped up before the market opened 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 traded.

Grupo Simec Stock Performance

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

Institutional Investors 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) in the fourth quarter, according to its most recent filing with the Securities and 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 currently owned by hedge funds and other institutional investors.

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.