Meros Investment Management LP Sells 12,326 Shares of Thermon Group Holdings, Inc. $THR

Meros Investment Management LP lowered its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 339,675 shares of the technology company’s stock after selling 12,326 shares during the quarter. Thermon Group makes up about 5.0% of Meros Investment Management LP’s holdings, making the stock its 3rd biggest position. Meros Investment Management LP’s holdings in Thermon Group were worth $12,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board purchased a new position in shares of Thermon Group during the second quarter worth approximately $31,000. Assetmark Inc. grew its position in shares of Thermon Group by 68.1% during the third quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock worth $41,000 after acquiring an additional 620 shares during the last quarter. Danske Bank A S purchased a new position in shares of Thermon Group during the third quarter worth approximately $45,000. Nkcfo LLC purchased a new position in shares of Thermon Group during the fourth quarter worth approximately $85,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Thermon Group during the third quarter worth approximately $83,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on THR shares. Roth Mkm lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Craig Hallum lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. William Blair lowered shares of Thermon Group from an “outperform” rating to a “hold” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded shares of Thermon Group to a “hold” rating in a research report on Saturday, May 30th. Finally, Zacks Research lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Thermon Group currently has a consensus rating of “Hold” and an average price target of $57.00.

Thermon Group Price Performance

THR opened at $61.14 on Tuesday. The firm has a 50 day moving average price of $60.40 and a 200 day moving average price of $49.86. The company has a market cap of $2.01 billion, a PE ratio of 45.63 and a beta of 0.83. Thermon Group Holdings, Inc. has a 1 year low of $23.86 and a 1 year high of $71.87. 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 posted its earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share (EPS) 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 analyst estimates of $137.85 million. Thermon Group had a return on equity of 13.42% and a net margin of 8.31%.The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $0.56 EPS. Sell-side analysts expect that Thermon Group Holdings, Inc. will post 2.27 earnings per share for the current year.

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.