New South Capital Management Inc. Has $19.13 Million Stock Holdings in Thermon Group Holdings, Inc. (NYSE:THR)

New South Capital Management Inc. lessened its stake in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 664,875 shares of the technology company's stock after selling 49,488 shares during the quarter. New South Capital Management Inc. owned approximately 1.97% of Thermon Group worth $19,128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in THR. Principal Financial Group Inc. bought a new position in Thermon Group during the third quarter worth $481,000. Barclays PLC raised its holdings in Thermon Group by 312.1% in the 3rd quarter. Barclays PLC now owns 54,149 shares of the technology company's stock valued at $1,616,000 after acquiring an additional 41,009 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Thermon Group by 15.5% during the third quarter. Wellington Management Group LLP now owns 1,324,609 shares of the technology company's stock worth $39,526,000 after acquiring an additional 178,017 shares during the period. JPMorgan Chase & Co. grew its position in shares of Thermon Group by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 274,227 shares of the technology company's stock valued at $8,183,000 after purchasing an additional 27,235 shares during the last quarter. Finally, FMR LLC grew its position in shares of Thermon Group by 10.0% in the third quarter. FMR LLC now owns 2,186,280 shares of the technology company's stock valued at $65,239,000 after purchasing an additional 198,642 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

Remove Ads

Insider Transactions at Thermon Group

In other news, SVP David Buntin sold 28,137 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $32.15, for a total transaction of $904,604.55. Following the completion of the transaction, the senior vice president now owns 57,773 shares of the company's stock, valued at approximately $1,857,401.95. The trade was a 32.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by insiders.

Thermon Group Price Performance

NYSE:THR traded up $0.47 during trading hours on Friday, reaching $28.51. 266,695 shares of the company were exchanged, compared to its average volume of 187,189. The business has a 50 day moving average of $28.81 and a 200 day moving average of $29.27. Thermon Group Holdings, Inc. has a 1-year low of $25.76 and a 1-year high of $35.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71. The company has a market capitalization of $960.33 million, a P/E ratio of 20.96 and a beta of 0.98.

Thermon Group (NYSE:THR - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. Research analysts forecast that Thermon Group Holdings, Inc. will post 1.88 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Thermon Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th.

Thermon Group 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.