BNP Paribas Financial Markets Lowers Stake in Thermon Group Holdings, Inc. (NYSE:THR)

BNP Paribas Financial Markets trimmed its position in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 27.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,311 shares of the technology company’s stock after selling 7,193 shares during the quarter. BNP Paribas Financial Markets owned 0.06% of Thermon Group worth $576,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. acquired a new position in shares of Thermon Group during the third quarter worth about $481,000. FMR LLC grew its holdings in Thermon Group by 10.0% during the 3rd quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock worth $65,239,000 after acquiring an additional 198,642 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Thermon Group by 169.1% in the 2nd 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 raised its holdings 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 valued at $2,193,000 after purchasing an additional 63,431 shares in the last quarter. Finally, Riverpoint Wealth Management Holdings LLC purchased a new position in shares of Thermon Group in the 2nd quarter valued at about $1,423,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Thermon Group Stock Performance

NYSE:THR opened at $32.00 on Friday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 25.00 and a beta of 1.10. The firm’s fifty day moving average price is $29.60 and its 200 day moving average price is $30.04. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85. Thermon Group Holdings, Inc. has a 1-year low of $23.76 and a 1-year high of $35.93.

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

Wall Street Analyst Weigh In

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

Insider Activity at Thermon Group

In other Thermon Group news, SVP David Buntin sold 28,137 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $32.15, for a total transaction of $904,604.55. Following the sale, the senior vice president now owns 57,773 shares in the company, valued at approximately $1,857,401.95. This represents a 32.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.

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 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.