Swedbank AB Reduces Position in Thermon Group Holdings, Inc. $THR

Swedbank AB trimmed its position in Thermon Group Holdings, Inc. (NYSE:THR) by 32.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 470,000 shares of the technology company’s stock after selling 224,000 shares during the period. Swedbank AB’s holdings in Thermon Group were worth $23,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chicago Capital Management LLC purchased a new stake in Thermon Group during the 1st quarter valued at about $1,515,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Thermon Group in the first quarter worth about $1,151,000. Sterling Capital Management LLC lifted its holdings in shares of Thermon Group by 559.5% during the first quarter. Sterling Capital Management LLC now owns 11,126 shares of the technology company’s stock worth $561,000 after purchasing an additional 9,439 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in Thermon Group in the first quarter valued at approximately $336,000. Finally, Assenagon Asset Management S.A. boosted its position in Thermon Group by 35.2% in the first quarter. Assenagon Asset Management S.A. now owns 345,731 shares of the technology company’s stock valued at $17,425,000 after buying an additional 90,037 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Thermon Group Price Performance

NYSE:THR opened at $61.14 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.69 and a quick ratio of 1.76. The company has a 50 day moving average price of $63.04 and a 200-day moving average price of $52.82. Thermon Group Holdings, Inc. has a 1-year low of $23.86 and a 1-year high of $71.87. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 45.63 and a beta of 0.83.

Thermon Group (NYSE:THR) last announced its quarterly earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The firm had revenue of $148.33 million for the quarter, compared to analysts’ expectations of $137.85 million. Thermon Group had a return on equity of 13.42% and a net margin of 8.31%.The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted $0.56 earnings per share. Equities research analysts forecast that Thermon Group Holdings, Inc. will post 2.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on THR. Weiss Ratings lowered shares of Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Thermon Group to a “hold” rating in a report on Saturday, May 30th. Finally, Zacks Research downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Six research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $57.00.

About Thermon Group

Thermon Group, Inc (NYSE: THR) is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon’s core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.