Grupo Simec (NYSEAMERICAN:SIM) Trading Down 4% – Here’s What Happened

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM)’s share price traded down 4% during mid-day trading on Friday . The company traded as low as $25.00 and last traded at $24.77. 3,681 shares changed hands during trading, an increase of 180% from the average session volume of 1,313 shares. The stock had previously closed at $25.80.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Grupo Simec from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th.

Grupo Simec Price Performance

The stock has a market cap of $3.84 billion, a P/E ratio of 7.39 and a beta of 0.30.

Grupo Simec (NYSEAMERICAN:SIM) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $1.00 EPS for the quarter. Grupo Simec had a return on equity of 18.62% and a net margin of 29.44%. The firm had revenue of $452.15 million for 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.