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

Shares of Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM) gapped down prior to trading on Wednesday. The stock had previously closed at $27.49, but opened at $25.71. Grupo Simec shares last traded at $25.71, with a volume of 111 shares changing hands.

Grupo Simec Stock Down 8.0%

The stock has a 50-day moving average of $28.42 and a 200 day moving average of $29.36. The company has a market capitalization of $3.95 billion, a PE ratio of 21.43 and a beta of 0.14.

Grupo Simec Company Profile

Grupo Simec, SAB. de C.V. is a steel manufacturer headquartered in Mexico. The company produces long steel products used in construction, infrastructure, manufacturing and industrial applications, including reinforcing bar, wire rod, merchant bar, structural shapes and special bar-quality steel.

Grupo Simec serves customers primarily in Mexico and the United States through a network of steelmaking, rolling and finishing facilities. Its products are sold to construction companies, steel service centers, distributors and manufacturers that require carbon, alloy and specialty steel products.

The company traces its origins to Mexico’s steel industry and has expanded its operations through the development and acquisition of production facilities in North America.