Algert Global LLC Acquires 17,124 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Algert Global LLC boosted its holdings in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 56.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,607 shares of the technology company’s stock after purchasing an additional 17,124 shares during the period. Algert Global LLC’s holdings in Thermon Group were worth $1,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in THR. Lazard Asset Management LLC lifted its stake in Thermon Group by 8.3% during the first quarter. Lazard Asset Management LLC now owns 10,093 shares of the technology company’s stock worth $330,000 after purchasing an additional 774 shares during the last quarter. Comerica Bank lifted its stake in Thermon Group by 8,193.5% during the first quarter. Comerica Bank now owns 12,855 shares of the technology company’s stock worth $421,000 after purchasing an additional 12,700 shares during the last quarter. Swedbank AB bought a new stake in Thermon Group during the first quarter worth $20,254,000. Boston Partners increased its holdings in shares of Thermon Group by 26.0% during the first quarter. Boston Partners now owns 21,984 shares of the technology company’s stock worth $719,000 after buying an additional 4,533 shares in the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in shares of Thermon Group during the first quarter worth $20,415,000. 99.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Thermon Group Stock Down 0.1 %

Shares of NYSE:THR opened at $31.70 on Friday. The company has a fifty day moving average of $29.00 and a 200-day moving average of $30.25. The company has a market capitalization of $1.07 billion, a PE ratio of 24.77 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 52-week low of $23.76 and a 52-week high of $35.93.

Thermon Group (NYSE:THR) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. The company 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 revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. On average, equities analysts predict that Thermon Group Holdings, Inc. will post 1.79 EPS 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.