Wedge Capital Management L L P NC lowered its position in shares of Thermon Group Holdings, Inc. (NYSE:THR – Free Report) by 10.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,724 shares of the technology company’s stock after selling 4,919 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Thermon Group were worth $1,200,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in Thermon Group in the second quarter valued at about $40,000. Mercer Global Advisors Inc. ADV grew its position in Thermon Group by 9.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock valued at $216,000 after acquiring an additional 613 shares during the last quarter. Dark Forest Capital Management LP grew its position in Thermon Group by 71.3% in the second quarter. Dark Forest Capital Management LP now owns 12,936 shares of the technology company’s stock valued at $398,000 after acquiring an additional 5,384 shares during the last quarter. Principal Financial Group Inc. bought a new position in Thermon Group in the third quarter valued at about $481,000. Finally, The Manufacturers Life Insurance Company grew its position in Thermon Group by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock valued at $523,000 after acquiring an additional 682 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.
Insider Transactions at Thermon Group
In related news, SVP David Buntin sold 28,137 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $32.15, for a total value of $904,604.55. Following the sale, the senior vice president now directly owns 57,773 shares in the company, valued at $1,857,401.95. This represents a 32.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.
Thermon Group Stock Performance
Thermon Group (NYSE:THR – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. The company had revenue of $114.60 million for the quarter, compared to analysts’ expectations of $116.19 million. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 earnings per share. As a group, analysts expect that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current fiscal 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.
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