Fmr LLC Increases Stock Position in Thermon Group Holdings, Inc. (NYSE:THR)

Fmr LLC increased its position in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,186,280 shares of the technology company’s stock after buying an additional 198,642 shares during the period. Fmr LLC owned about 0.06% of Thermon Group worth $65,239,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in THR. Quest Partners LLC grew its stake in shares of Thermon Group by 2,375.0% during the second quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,045 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Thermon Group during the 2nd quarter valued at approximately $40,000. Meeder Asset Management Inc. purchased a new stake in Thermon Group during the 2nd quarter worth approximately $60,000. QRG Capital Management Inc. raised its position in shares of Thermon Group by 9.8% in the 2nd quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock valued at $210,000 after purchasing an additional 608 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake 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 during the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analyst Ratings Changes

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

Thermon Group Stock Performance

Shares of THR stock opened at $31.96 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 24.97 and a beta of 1.10. Thermon Group Holdings, Inc. has a one year low of $23.76 and a one year high of $35.93. The company’s 50-day simple moving average is $29.30 and its 200-day simple moving average is $30.16.

Thermon Group (NYSE:THR) last released its earnings results on Thursday, November 7th. The technology company reported $0.38 EPS for the quarter, topping 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 company had revenue of $114.60 million for the quarter, compared to the consensus estimate of $116.19 million. During the same quarter last year, the business posted $0.49 EPS. Thermon Group’s quarterly revenue was down 7.4% compared to the same quarter last year. Equities analysts anticipate that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current fiscal year.

About Thermon Group

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.