ABC Arbitrage SA Invests $1.10 Million in Thermon Group Holdings, Inc. $THR

ABC Arbitrage SA acquired a new stake in Thermon Group Holdings, Inc. (NYSE:THR) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 21,895 shares of the technology company’s stock, valued at approximately $1,104,000.

Several other large investors also recently modified their holdings of THR. Canada Pension Plan Investment Board bought a new position in Thermon Group during the second quarter worth $31,000. Danske Bank A S acquired a new position in Thermon Group in the third quarter valued at $45,000. NewEdge Advisors LLC bought a new stake in Thermon Group during the third quarter valued at $83,000. Nkcfo LLC bought a new stake in Thermon Group during the fourth quarter valued at $85,000. Finally, BNP Paribas Financial Markets grew its holdings in Thermon Group by 62.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,236 shares of the technology company’s stock worth $91,000 after acquiring an additional 1,245 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Thermon Group Price Performance

THR stock opened at $61.14 on Tuesday. 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’s 50-day moving average is $63.09 and its 200-day moving average is $53.14. The stock has a market capitalization of $2.01 billion, a PE ratio of 45.63 and a beta of 0.83. Thermon Group Holdings, Inc. has a 1 year low of $23.86 and a 1 year high of $71.87.

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

Wall Street Analyst Weigh In

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

Thermon Group Profile

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.