Thermon Group Holdings, Inc. (NYSE:THR) Short Interest Update

Thermon Group Holdings, Inc. (NYSE:THR) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 267,200 shares, a drop of 17.9% from the May 31st total of 325,600 shares. Based on an average daily trading volume, of 188,200 shares, the short-interest ratio is currently 1.4 days. Currently, 0.8% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of research firms recently issued reports on THR. StockNews.com raised Thermon Group from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. CJS Securities assumed coverage on Thermon Group in a research note on Monday, April 29th. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, Roth Mkm boosted their target price on Thermon Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, May 30th.

Thermon Group Stock Up 1.3 %

Shares of NYSE:THR opened at $30.76 on Friday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 20.51 and a beta of 1.13. Thermon Group has a fifty-two week low of $23.76 and a fifty-two week high of $35.93. The firm’s 50-day simple moving average is $32.18 and its 200-day simple moving average is $30.90. 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 (NYSE:THR) last announced its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $127.65 million for the quarter, compared to analyst estimates of $127.19 million. Thermon Group had a return on equity of 13.64% and a net margin of 10.43%. As a group, equities research analysts predict that Thermon Group will post 1.98 earnings per share for the current year.

Insider Activity at Thermon Group

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Thermon Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,363,315 shares of the technology company’s stock worth $109,543,000 after acquiring an additional 21,971 shares in the last quarter. FMR LLC boosted its position 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 purchasing an additional 916,248 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Thermon Group by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,775,583 shares of the technology company’s stock valued at $57,833,000 after purchasing an additional 4,599 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Thermon Group by 44.8% in the third quarter. Wellington Management Group LLP now owns 1,724,846 shares of the technology company’s stock valued at $47,382,000 after buying an additional 533,474 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Thermon Group by 22.2% during the 1st quarter. William Blair Investment Management LLC now owns 901,244 shares of the technology company’s stock worth $29,489,000 after buying an additional 163,640 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Thermon Group Company 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.