Thermon Group Holdings, Inc. $THR Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 35.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 345,731 shares of the technology company’s stock after buying an additional 90,037 shares during the quarter. Assenagon Asset Management S.A. owned about 1.05% of Thermon Group worth $17,425,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in THR. GW&K Investment Management LLC raised its holdings in shares of Thermon Group by 133.4% during the 3rd quarter. GW&K Investment Management LLC now owns 1,429,542 shares of the technology company’s stock worth $38,198,000 after acquiring an additional 817,138 shares during the period. Clifford Capital Partners LLC grew its holdings in shares of Thermon Group by 2,551.8% in the fourth quarter. Clifford Capital Partners LLC now owns 430,230 shares of the technology company’s stock valued at $15,987,000 after purchasing an additional 414,006 shares during the period. Janus Henderson Group PLC increased its position in Thermon Group by 960.3% during the fourth quarter. Janus Henderson Group PLC now owns 250,813 shares of the technology company’s stock worth $9,320,000 after purchasing an additional 227,157 shares during the last quarter. Invesco Ltd. increased its position in Thermon Group by 445.3% during the fourth quarter. Invesco Ltd. now owns 273,068 shares of the technology company’s stock worth $10,147,000 after purchasing an additional 222,990 shares during the last quarter. Finally, UBS Group AG raised its stake in Thermon Group by 287.4% during the third quarter. UBS Group AG now owns 288,370 shares of the technology company’s stock worth $7,705,000 after purchasing an additional 213,935 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

Thermon Group Stock Performance

Shares of THR stock opened at $61.14 on Friday. The firm’s 50 day moving average price is $61.84 and its 200-day moving average price is $51.33. 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 Holdings, Inc. has a one year low of $23.86 and a one year high of $71.87. The firm has a market cap of $2.01 billion, a P/E ratio of 45.63 and a beta of 0.83.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on THR shares. Craig Hallum downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Weiss Ratings cut Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded Thermon Group to a “hold” rating in a research report on Saturday, May 30th. Finally, Zacks Research cut Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $57.00.

Thermon Group 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.