Chicago Capital Management LLC Makes New Investment in Thermon Group Holdings, Inc. $THR

Chicago Capital Management LLC bought a new stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 30,069 shares of the technology company’s stock, valued at approximately $1,515,000. Thermon Group makes up approximately 0.0% of Chicago Capital Management LLC’s investment portfolio, making the stock its 26th largest position. Chicago Capital Management LLC owned about 0.09% of Thermon Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in THR. Canada Pension Plan Investment Board bought a new stake in shares of Thermon Group in the second quarter valued at about $31,000. Danske Bank A S purchased a new stake in Thermon Group in the third quarter worth about $45,000. NewEdge Advisors LLC bought a new position in Thermon Group during the 3rd quarter worth about $83,000. Nkcfo LLC bought a new position in Thermon Group during the 4th quarter worth about $85,000. Finally, BNP Paribas Financial Markets increased its position in Thermon Group by 62.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,236 shares of the technology company’s stock valued at $91,000 after purchasing an additional 1,245 shares during the period. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Thermon Group Price Performance

Thermon Group stock opened at $61.14 on Friday. The stock has a market cap of $2.01 billion, a P/E ratio of 45.63 and a beta of 0.83. The company has a current ratio of 2.69, a quick ratio of 1.76 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $62.61 and a 200 day moving average price of $52.09. Thermon Group Holdings, Inc. has a 12-month low of $23.86 and a 12-month high of $71.87.

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

Wall Street Analyst Weigh In

THR has been the subject of several recent research reports. Weiss Ratings lowered Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Zacks Research downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Wall Street Zen upgraded Thermon Group to a “hold” rating in a research report on Saturday, May 30th. Six analysts have rated the stock with a Hold rating, According to MarketBeat, Thermon Group currently has an average rating of “Hold” and an average price target of $57.00.

Thermon Group Company Profile

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.