Swedbank AB lowered its position in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 615,000 shares of the technology company's stock after selling 20,000 shares during the period. Swedbank AB owned about 1.82% of Thermon Group worth $18,352,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC raised its stake in Thermon Group by 8.3% in the first quarter. Lazard Asset Management LLC now owns 10,093 shares of the technology company's stock worth $330,000 after buying an additional 774 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Thermon Group by 17.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 239,205 shares of the technology company's stock worth $7,827,000 after acquiring an additional 35,630 shares in the last quarter. Comerica Bank raised its position in shares of Thermon Group by 8,193.5% in the 1st quarter. Comerica Bank now owns 12,855 shares of the technology company's stock worth $421,000 after acquiring an additional 12,700 shares in the last quarter. Boston Partners lifted its stake in shares of Thermon Group by 26.0% during the 1st quarter. Boston Partners now owns 21,984 shares of the technology company's stock worth $719,000 after purchasing an additional 4,533 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in Thermon Group during the first quarter valued at about $20,415,000. 99.76% of the stock is currently owned by institutional investors.
Separately, StockNews.com raised shares of Thermon Group from a "hold" rating to a "buy" rating in a research report on Saturday, September 14th.
Read Our Latest Research Report on THR
Shares of THR opened at $31.75 on Wednesday. The company has a current ratio of 2.80, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.07 billion, a PE ratio of 24.80 and a beta of 1.07. Thermon Group Holdings, Inc. has a 12 month low of $23.76 and a 12 month high of $35.93. The stock has a fifty day moving average price of $28.92 and a 200-day moving average price of $30.26.
Thermon Group (NYSE:THR - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.03. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%. The company had revenue of $114.60 million during the quarter, compared to analysts' expectations of $116.19 million. During the same period last year, the business posted $0.49 earnings per share. The firm's revenue was down 7.4% compared to the same quarter last year. Equities research analysts predict that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current fiscal year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Thermon Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Thermon Group wasn't on the list.
While Thermon Group currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.