Mercer Global Advisors Inc. ADV Increases Holdings in Thermon Group Holdings, Inc. (NYSE:THR)

Mercer Global Advisors Inc. ADV raised its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 9.6% in the second quarter, Holdings Channel reports. The institutional investor owned 7,017 shares of the technology company’s stock after buying an additional 613 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Thermon Group were worth $216,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. First Eagle Investment Management LLC purchased a new position in Thermon Group during the first quarter valued at $1,391,000. Swedbank AB purchased a new position in shares of Thermon Group in the first quarter worth $20,254,000. New South Capital Management Inc. raised its stake in shares of Thermon Group by 10.5% in the first quarter. New South Capital Management Inc. now owns 734,185 shares of the technology company’s stock worth $24,023,000 after purchasing an additional 69,666 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Thermon Group by 169.1% in the second quarter. Assenagon Asset Management S.A. now owns 200,354 shares of the technology company’s stock worth $6,163,000 after purchasing an additional 125,903 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Thermon Group by 806.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 71,299 shares of the technology company’s stock worth $2,193,000 after purchasing an additional 63,431 shares during 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 note on Saturday, September 14th.

Thermon Group Stock Down 1.1 %

Thermon Group stock opened at $29.51 on Wednesday. The stock has a market cap of $997.44 million, a PE ratio of 19.67 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.73 and a current ratio of 2.61. Thermon Group Holdings, Inc. has a one year low of $23.76 and a one year high of $35.93. The stock has a fifty day moving average of $29.93 and a 200 day moving average of $31.12.

Thermon Group (NYSE:THR) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. The company had revenue of $115.10 million during the quarter, compared to analysts’ expectations of $115.99 million. Thermon Group had a return on equity of 13.26% and a net margin of 9.78%. Thermon Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, sell-side analysts predict that Thermon Group Holdings, Inc. will post 1.98 EPS for the current 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.