Principal Financial Group Inc. Acquires New Shares in Thermon Group Holdings, Inc. (NYSE:THR)

Principal Financial Group Inc. acquired 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 fund acquired 16,125 shares of the technology company's stock, valued at approximately $481,000.

Several other large investors also recently made changes to their positions in THR. Quest Partners LLC grew its stake in shares of Thermon Group by 2,375.0% during the second quarter. Quest Partners LLC now owns 1,089 shares of the technology company's stock valued at $33,000 after purchasing an additional 1,045 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Thermon Group in the 2nd quarter valued at $40,000. Meeder Asset Management Inc. acquired a new stake in shares of Thermon Group in the 2nd quarter valued at $60,000. QRG Capital Management Inc. raised its position in shares of Thermon Group by 9.8% during the second quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company's stock worth $210,000 after acquiring an additional 608 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of 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 valued at $216,000 after acquiring an additional 613 shares during the period. Institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

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

Thermon Group Trading Up 0.8 %

THR stock traded up $0.27 during midday trading on Monday, reaching $32.24. The company's stock had a trading volume of 274,452 shares, compared to its average volume of 195,243. The business's 50-day simple moving average is $28.86 and its 200-day simple moving average is $30.28. The company has a quick ratio of 1.85, a current ratio of 2.80 and a debt-to-equity ratio of 0.29. Thermon Group Holdings, Inc. has a 52 week low of $23.76 and a 52 week high of $35.93. The stock has a market cap of $1.09 billion, a PE ratio of 25.19 and a beta of 1.07.

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

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.