Grupo Simec (NYSEAMERICAN:SIM) Shares Down 3% – Here’s What Happened

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) dropped 3% on Wednesday . The stock traded as low as $26.22 and last traded at $25.54. Approximately 123 shares changed hands during trading, a decline of 92% from the average daily volume of 1,539 shares. The stock had previously closed at $26.33.

Grupo Simec Price Performance

The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 7.69 and a beta of 0.29.

Institutional Trading of 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 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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.