Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up to $33.44

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) gapped up prior to trading on Thursday . The stock had previously closed at $33.44, but opened at $34.29. Grupo Simec shares last traded at $34.29, with a volume of 118 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Grupo Simec from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd.

Grupo Simec Stock Down 0.6 %

The company’s 50 day simple moving average is $34.91. The stock has a market capitalization of $5.25 billion, a P/E ratio of 23.01 and a beta of 0.34.

Grupo Simec (NYSEAMERICAN:SIM) last posted its quarterly earnings results on Monday, October 30th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter. Grupo Simec had a return on equity of 9.25% and a net margin of 10.40%. The business had revenue of $554.20 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Grupo Simec stock. Avantax Advisory Services Inc. bought a new position in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,455 shares of the basic materials company’s stock, valued at approximately $273,000. Hedge funds and other 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.