Sterling Capital Management LLC Purchases 9,439 Shares of Thermon Group Holdings, Inc. $THR

Sterling Capital Management LLC grew its position in Thermon Group Holdings, Inc. (NYSE:THR) by 559.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,126 shares of the technology company’s stock after purchasing an additional 9,439 shares during the period. Sterling Capital Management LLC’s holdings in Thermon Group were worth $561,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Kestra Private Wealth Services LLC bought a new position in shares of Thermon Group in the first quarter valued at approximately $336,000. Assenagon Asset Management S.A. lifted its stake in Thermon Group by 35.2% in the first quarter. Assenagon Asset Management S.A. now owns 345,731 shares of the technology company’s stock valued at $17,425,000 after purchasing an additional 90,037 shares during the last quarter. Aristides Capital LLC purchased a new position in shares of Thermon Group during the 4th quarter valued at $204,000. Virtu Financial LLC bought a new position in Thermon Group during the fourth quarter worth about $549,000. Finally, Invesco Ltd. boosted its holdings in Thermon Group by 445.3% in the 4th quarter. Invesco Ltd. now owns 273,068 shares of the technology company’s stock worth $10,147,000 after buying an additional 222,990 shares during the period. Institutional investors own 99.76% of the company’s stock.

Thermon Group Price Performance

Shares of Thermon Group stock opened at $61.14 on Friday. Thermon Group Holdings, Inc. has a 52-week low of $23.86 and a 52-week high of $71.87. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 45.63 and a beta of 0.83. The company has a fifty day moving average of $62.46 and a 200-day moving average of $52.02. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.76 and a current ratio of 2.69.

Thermon Group (NYSE:THR) last released its earnings results on Tuesday, May 19th. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The business had revenue of $148.33 million for the quarter, compared to the consensus estimate of $137.85 million. Thermon Group had a net margin of 8.31% and a return on equity of 13.42%. Thermon Group’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS. Equities research analysts expect that Thermon Group Holdings, Inc. will post 2.27 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on THR. Weiss Ratings cut Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Thermon Group to a “hold” rating in a research note on Saturday, May 30th. Finally, Zacks Research cut shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $57.00.

About Thermon Group

Thermon Group, Inc (NYSE: THR) is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon’s core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.