Sterling Capital Management LLC Increases Stake in Thermon Group Holdings, Inc. $THR

Sterling Capital Management LLC raised its stake in Thermon Group Holdings, Inc. (NYSE:THR) by 559.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 11,126 shares of the technology company’s stock after acquiring 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 quarter.

Other institutional investors have also recently made changes to their positions in the company. Oliver Luxxe Assets LLC purchased a new stake in Thermon Group during the 4th quarter valued at $1,100,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Thermon Group in the fourth quarter valued at about $3,758,000. Denali Advisors LLC purchased a new position in shares of Thermon Group in the fourth quarter valued at about $638,000. Peregrine Asset Advisers Inc. bought a new position in shares of Thermon Group during the fourth quarter valued at about $2,282,000. Finally, Harvey Partners LLC raised its stake in shares of Thermon Group by 20.6% during the third quarter. Harvey Partners LLC now owns 771,500 shares of the technology company’s stock valued at $20,614,000 after acquiring an additional 131,769 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

Thermon Group Stock Performance

NYSE:THR opened at $61.14 on Friday. The company has a 50-day moving average price of $62.46 and a 200-day moving average price of $52.02. The stock has a market cap of $2.01 billion, a price-to-earnings 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. 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 announced its quarterly earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Thermon Group had a net margin of 8.31% and a return on equity of 13.42%. The company had revenue of $148.33 million for the quarter, compared to analysts’ expectations of $137.85 million. During the same quarter in the prior year, the firm earned $0.56 EPS. Thermon Group’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts predict that Thermon Group Holdings, Inc. will post 2.27 EPS for the current year.

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.