272 Capital LP Invests $3.17 Million in Thermon Group Holdings, Inc. (NYSE:THR)

272 Capital LP bought a new position in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 106,318 shares of the technology company's stock, valued at approximately $3,173,000. Thermon Group comprises approximately 3.5% of 272 Capital LP's portfolio, making the stock its 7th largest position. 272 Capital LP owned about 0.32% of Thermon Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quest Partners LLC lifted its holdings in shares of Thermon Group by 2,375.0% in the 2nd quarter. Quest Partners LLC now owns 1,089 shares of the technology company's stock worth $33,000 after purchasing an additional 1,045 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Thermon Group in the 2nd quarter worth about $40,000. Meeder Asset Management Inc. bought a new stake in Thermon Group in the 2nd quarter valued at about $60,000. QRG Capital Management Inc. boosted its stake in Thermon Group by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company's stock valued at $210,000 after purchasing an additional 608 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in Thermon Group by 9.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company's stock worth $216,000 after purchasing an additional 613 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Thermon Group Stock Performance

Shares of NYSE THR traded down $0.14 during midday trading on Friday, reaching $31.56. 98,299 shares of the company traded hands, compared to its average volume of 242,311. The stock has a 50-day moving average price of $29.04 and a 200 day moving average price of $30.22. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 24.66 and a beta of 1.07. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85. Thermon Group Holdings, Inc. has a 52 week low of $23.76 and a 52 week high of $35.93.

Thermon Group (NYSE:THR - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.03. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%. The company had revenue of $114.60 million during the quarter, compared to analyst estimates of $116.19 million. During the same period in the prior year, the business posted $0.49 EPS. The business's revenue for the quarter was down 7.4% compared to the same quarter last year. Sell-side analysts anticipate that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Thermon Group from a "hold" rating to a "buy" rating in a research report on Saturday, September 14th.

Thermon Group Company Profile

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It offers heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.