D.A. Davidson & CO. Purchases 506 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

D.A. Davidson & CO. increased its position in Thermon Group Holdings, Inc. (NYSE:THR) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,282 shares of the technology company’s stock after buying an additional 506 shares during the period. D.A. Davidson & CO. owned 0.09% of Thermon Group worth $874,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new stake in shares of Thermon Group during the 3rd quarter worth approximately $481,000. Assenagon Asset Management S.A. lifted its position in Thermon Group by 169.1% during the second quarter. Assenagon Asset Management S.A. now owns 200,354 shares of the technology company’s stock valued at $6,163,000 after purchasing an additional 125,903 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Thermon Group by 806.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 71,299 shares of the technology company’s stock worth $2,193,000 after buying an additional 63,431 shares in the last quarter. Riverpoint Wealth Management Holdings LLC bought a new stake in shares of Thermon Group in the 2nd quarter worth about $1,423,000. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Thermon Group by 9.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock valued at $216,000 after buying an additional 613 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Thermon Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th.

Thermon Group Stock Performance

Shares of NYSE:THR opened at $31.56 on Monday. The company has a current ratio of 2.80, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. Thermon Group Holdings, Inc. has a 12 month low of $23.76 and a 12 month high of $35.93. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 24.66 and a beta of 1.07. The firm’s 50-day moving average is $29.04 and its 200 day moving average is $30.22.

Thermon Group (NYSE:THR) last released its earnings results on Thursday, November 7th. The technology company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%. The firm had revenue of $114.60 million for the quarter, compared to analysts’ expectations of $116.19 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. Research analysts predict that Thermon Group Holdings, Inc. will post 1.79 EPS for the current year.

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 offers 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.