Thermon Group Holdings, Inc. (NYSE:THR) Shares Sold by Swedbank AB

Swedbank AB lessened its stake in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 3.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 615,000 shares of the technology company's stock after selling 20,000 shares during the period. Swedbank AB owned about 1.82% of Thermon Group worth $18,352,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. lifted its holdings 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 worth $210,000 after buying an additional 608 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Thermon Group by 9.6% during the second 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. The Manufacturers Life Insurance Company boosted its holdings in Thermon Group by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company's stock worth $523,000 after purchasing an additional 682 shares during the period. Lazard Asset Management LLC increased its stake in Thermon Group by 8.3% during the first quarter. Lazard Asset Management LLC now owns 10,093 shares of the technology company's stock valued at $330,000 after purchasing an additional 774 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Thermon Group by 9.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,403 shares of the technology company's stock worth $289,000 after purchasing an additional 804 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

Thermon Group Stock Performance

NYSE:THR traded down $0.66 during midday trading on Friday, reaching $28.35. 63,175 shares of the company traded hands, compared to its average volume of 192,977. The firm has a market capitalization of $958.23 million, a price-to-earnings ratio of 19.90 and a beta of 1.05. The company has a fifty day moving average price of $29.25 and a 200 day moving average price of $30.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.61 and a quick ratio of 1.73. Thermon Group Holdings, Inc. has a twelve month low of $23.76 and a twelve month high of $35.93.

Thermon Group (NYSE:THR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.07. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. The company had revenue of $115.10 million during the quarter, compared to the consensus estimate of $115.99 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts expect that Thermon Group Holdings, Inc. will post 1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.