Los Angeles Capital Management LLC Lowers Stock Position in Thermon Group Holdings, Inc. (NYSE:THR)

Los Angeles Capital Management LLC cut its position in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 64.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,319 shares of the technology company’s stock after selling 26,439 shares during the period. Los Angeles Capital Management LLC’s holdings in Thermon Group were worth $469,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in THR. Charles Schwab Investment Management Inc. boosted its holdings in Thermon Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 259,172 shares of the technology company’s stock worth $7,119,000 after buying an additional 7,178 shares in the last quarter. FMR LLC boosted its holdings in Thermon Group by 99.0% during the third quarter. FMR LLC now owns 1,841,520 shares of the technology company’s stock worth $50,587,000 after buying an additional 916,248 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in Thermon Group during the third quarter worth $365,000. Federated Hermes Inc. raised its position in Thermon Group by 44.0% during the third quarter. Federated Hermes Inc. now owns 258,039 shares of the technology company’s stock worth $7,088,000 after acquiring an additional 78,826 shares during the period. Finally, Trexquant Investment LP raised its position in Thermon Group by 6.7% during the third quarter. Trexquant Investment LP now owns 56,669 shares of the technology company’s stock worth $1,557,000 after acquiring an additional 3,555 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

Thermon Group Price Performance

Shares of NYSE THR opened at $29.91 on Wednesday. The firm has a 50-day simple moving average of $32.14 and a 200-day simple moving average of $30.91. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 19.94 and a beta of 1.13. The company has a quick ratio of 1.72, a current ratio of 2.51 and a debt-to-equity ratio of 0.32. Thermon Group Holdings, Inc. has a 52 week low of $23.76 and a 52 week high of $35.93.

Thermon Group (NYSE:THR) last issued its earnings results on Wednesday, May 29th. The technology company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $127.65 million during the quarter, compared to analysts’ expectations of $127.19 million. Thermon Group had a net margin of 10.43% and a return on equity of 13.64%. On average, equities analysts predict that Thermon Group Holdings, Inc. will post 1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on THR shares. StockNews.com upgraded shares of Thermon Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. CJS Securities started coverage on shares of Thermon Group in a research report on Monday, April 29th. They set an “outperform” rating and a $42.00 price objective for the company. Finally, Roth Mkm upped their price objective on shares of Thermon Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th.

Insider Activity

In other news, Director John T. Nesser III sold 6,000 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $33.60, for a total value of $201,600.00. Following the completion of the sale, the director now directly owns 57,315 shares in the company, valued at $1,925,784. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director John T. Nesser III sold 6,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $33.60, for a total transaction of $201,600.00. Following the completion of the sale, the director now directly owns 57,315 shares in the company, valued at $1,925,784. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin J. Mcginty sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $32.84, for a total transaction of $164,200.00. Following the sale, the director now owns 38,109 shares of the company’s stock, valued at $1,251,499.56. The disclosure for this sale can be found here. Insiders sold 13,910 shares of company stock worth $462,849 over the last three months. Insiders own 1.90% of the company’s stock.

Thermon Group Profile

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It provides heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.