As SIM moves over the 200 day moving average, i believe it will gain momentum to closer to its true value. People seem to have forgotten this one amongst all the Steel takeover chatter. It is a very large company and ripe for the picking. With a trailing p/e of around 10 and 473.37M ($3 per share) cash on hand and less than 1 million debt, it is clear that this one is simply being overlooked.
More about the company:
Grupo Simec, S.A.B. de C.V., a mini-mill steel company, engages in the manufacture, processing, and distribution of special bar quality (SBQ) steel and structural steel products in North America. Its steel products include I beams; channels; angles; hot rolled bars, including round, square, and hexagonal rods; cold finished bars; rebar; flat bars; semi-finished tube rounds, and other semifinished trade products. The company's SBQ products are used in various engineered end-user applications, including axles, wheel hubs, and crankshafts for cars and light trucks, machine tools, and off-highway equipment. Its structural steel products are used in the non-residential construction market and other construction applications. Grupo Simec sells its products primarily to the construction, manufacturing, mining, and automotive industries in Mexico, the United State, Canada, Central and South America, and Europe. The company was founded in 1969. It was formerly known as Grupo Simec, S.A. de C.V. and changed its name to Grupo Simec, S.A.B. de C.V. in 2006. The company is based in Guadalajara, Mexico. Grupo Simec, S.A.B. de C.V. is a subsidiary of Industrias CH, S.A.B. de C.V.
$14.57 (07/17/07)
