Grupo Simec (NYSEAMERICAN:SIM) Shares Down 4.5% – Here’s What Happened

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares fell 4.5% during mid-day trading on Wednesday . The stock traded as low as $27.03 and last traded at $27.55. 869 shares changed hands during trading, a decline of 19% from the average session volume of 1,075 shares. The stock had previously closed at $28.84.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Grupo Simec from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th.

Grupo Simec Stock Down 4.4 %

The company has a market cap of $4.25 billion, a PE ratio of 9.05 and a beta of 0.29.

Grupo Simec (NYSEAMERICAN:SIM) last issued its earnings results on Monday, July 22nd. The basic materials company reported $1.39 EPS for the quarter. Grupo Simec had a net margin of 24.90% and a return on equity of 16.68%. The firm had revenue of $487.42 million during the quarter.

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.