Comerica Bank Sells 1,706 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Comerica Bank cut its holdings in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 12.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,322 shares of the technology company’s stock after selling 1,706 shares during the period. Comerica Bank’s holdings in Thermon Group were worth $354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Thermon Group by 7.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 410,574 shares of the technology company’s stock valued at $11,812,000 after acquiring an additional 29,146 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Thermon Group in the 4th quarter valued at $47,000. Principal Financial Group Inc. lifted its stake in shares of Thermon Group by 7.6% in the 4th quarter. Principal Financial Group Inc. now owns 17,351 shares of the technology company’s stock valued at $499,000 after acquiring an additional 1,226 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Thermon Group in the 4th quarter valued at $755,000. Finally, Franklin Resources Inc. lifted its stake in shares of Thermon Group by 2.1% in the 3rd quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock valued at $595,000 after acquiring an additional 422 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Thermon Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th.

Thermon Group Stock Performance

NYSE THR opened at $30.12 on Friday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.15 and a beta of 1.07. Thermon Group Holdings, Inc. has a twelve month low of $23.05 and a twelve month high of $35.93. The stock has a fifty day simple moving average of $27.33 and a 200 day simple moving average of $28.69. The company has a quick ratio of 1.71, a current ratio of 2.56 and a debt-to-equity ratio of 0.28.

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.