First Eagle Investment Management LLC Increases Stake in Thermon Group Holdings, Inc. (NYSE:THR)

First Eagle Investment Management LLC grew its position in Thermon Group Holdings, Inc. (NYSE:THR) by 358.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 195,000 shares of the technology company’s stock after buying an additional 152,500 shares during the period. First Eagle Investment Management LLC owned approximately 0.58% of Thermon Group worth $5,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Thermon Group by 17.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 303,493 shares of the technology company’s stock worth $9,885,000 after acquiring an additional 44,321 shares during the last quarter. Jump Financial LLC bought a new position in shares of Thermon Group during the fourth quarter valued at $276,000. Dimensional Fund Advisors LP boosted its position in shares of Thermon Group by 0.3% during 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 buying an additional 4,599 shares during the last quarter. Principal Financial Group Inc. raised its position in Thermon Group by 16.6% in the 4th quarter. Principal Financial Group Inc. now owns 14,074 shares of the technology company’s stock worth $458,000 after buying an additional 2,006 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Thermon Group by 595.9% during the 4th quarter. Wells Fargo & Company MN now owns 300,880 shares of the technology company’s stock valued at $9,800,000 after acquiring an additional 257,646 shares during the period. Institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Roth Mkm upped their price objective on Thermon Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. StockNews.com raised shares of Thermon Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th.

Thermon Group Stock Down 2.2 %

THR opened at $30.06 on Friday. Thermon Group Holdings, Inc. has a 1-year low of $23.76 and a 1-year high of $35.93. The firm’s 50 day simple moving average is $30.34 and its two-hundred day simple moving average is $31.01. The company has a current ratio of 2.61, a quick ratio of 1.73 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.02 billion, a PE ratio of 20.04 and a beta of 1.06.

Thermon Group (NYSE:THR) last released its earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.07. The company had revenue of $115.10 million for the quarter, compared to the consensus estimate of $115.99 million. Thermon Group had a return on equity of 13.26% and a net margin of 9.78%. Thermon Group’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, equities analysts forecast that Thermon Group Holdings, Inc. will post 1.98 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.