Rice Hall James & Associates LLC Acquires 14,054 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Rice Hall James & Associates LLC boosted its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 14.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 110,810 shares of the technology company's stock after purchasing an additional 14,054 shares during the period. Rice Hall James & Associates LLC owned about 0.33% of Thermon Group worth $3,188,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in Thermon Group in the third quarter worth approximately $481,000. Barclays PLC grew its position in Thermon Group by 312.1% in the third quarter. Barclays PLC now owns 54,149 shares of the technology company's stock worth $1,616,000 after acquiring an additional 41,009 shares in the last quarter. Wellington Management Group LLP grew its position in Thermon Group by 15.5% in 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 in the last quarter. JPMorgan Chase & Co. grew its position in Thermon Group by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 274,227 shares of the technology company's stock worth $8,183,000 after acquiring an additional 27,235 shares in the last quarter. Finally, FMR LLC grew its position in Thermon Group by 10.0% in the third quarter. FMR LLC now owns 2,186,280 shares of the technology company's stock worth $65,239,000 after acquiring an additional 198,642 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Thermon Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 7th.

Thermon Group Stock Performance

Shares of Thermon Group stock traded down $0.87 on Friday, reaching $28.76. The stock had a trading volume of 227,922 shares, compared to its average volume of 161,658. The business's 50-day moving average price is $28.98 and its two-hundred day moving average price is $29.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56. Thermon Group Holdings, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $35.93. The stock has a market cap of $969.03 million, a P/E ratio of 21.15 and a beta of 1.10.

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

Insider Activity at Thermon Group

In related news, SVP David Buntin sold 28,137 shares of the company's stock in a transaction on Thursday, December 12th. The shares were 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 directly owns 57,773 shares in the company, valued at $1,857,401.95. This represents a 32.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.40% of the company's stock.

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.