Thermon Group Holdings, Inc. (NYSE:THR) Stake Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 11.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the technology company’s stock after purchasing an additional 4,000 shares during the quarter. Victory Capital Management Inc.’s holdings in Thermon Group were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Riverpoint Wealth Management Holdings LLC increased its position in Thermon Group by 1.7% in the third quarter. Riverpoint Wealth Management Holdings LLC now owns 47,057 shares of the technology company’s stock worth $1,404,000 after buying an additional 798 shares during the period. Principal Financial Group Inc. bought a new position in shares of Thermon Group during the third quarter worth about $481,000. Harbor Capital Advisors Inc. increased its holdings in shares of Thermon Group by 131.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,232 shares of the technology company’s stock worth $693,000 after acquiring an additional 13,199 shares during the period. Assenagon Asset Management S.A. lifted its position in Thermon Group by 1.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 202,389 shares of the technology company’s stock valued at $6,039,000 after purchasing an additional 2,035 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Thermon Group by 4.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 38,341 shares of the technology company’s stock valued at $1,144,000 after purchasing an additional 1,754 shares during the period. Institutional investors own 99.76% of the company’s stock.

Thermon Group Trading Down 1.5 %

Shares of THR stock opened at $31.75 on Wednesday. The firm has a market capitalization of $1.07 billion, a PE ratio of 25.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80. Thermon Group Holdings, Inc. has a 1 year low of $23.76 and a 1 year high of $35.93. The stock has a fifty day moving average of $28.92 and a two-hundred day moving average of $30.26.

Thermon Group (NYSE:THR) last posted its quarterly earnings data 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 business had revenue of $114.60 million during the quarter, compared to the consensus estimate of $116.19 million. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 earnings per share. As a group, research analysts expect that Thermon Group Holdings, Inc. will post 1.79 EPS for the current year.

Wall Street Analyst Weigh In

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 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.