Sterling Capital Management LLC Cuts Stock Position in Thermon Group Holdings, Inc. (NYSE:THR)

Sterling Capital Management LLC cut its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 54.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,285 shares of the technology company's stock after selling 13,471 shares during the period. Sterling Capital Management LLC's holdings in Thermon Group were worth $325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in Thermon Group by 0.8% during the third quarter. State Street Corp now owns 769,187 shares of the technology company's stock valued at $22,953,000 after buying an additional 5,882 shares during the period. Jane Street Group LLC grew its position in shares of Thermon Group by 40.4% during the 3rd quarter. Jane Street Group LLC now owns 48,458 shares of the technology company's stock valued at $1,446,000 after acquiring an additional 13,950 shares during the period. Barclays PLC increased its stake in shares of Thermon Group by 312.1% in the 3rd quarter. Barclays PLC now owns 54,149 shares of the technology company's stock worth $1,616,000 after purchasing an additional 41,009 shares in the last quarter. Geode Capital Management LLC lifted its position in Thermon Group by 1.2% during the third quarter. Geode Capital Management LLC now owns 772,597 shares of the technology company's stock valued at $23,059,000 after purchasing an additional 8,910 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Thermon Group by 2.1% during the third quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company's stock valued at $595,000 after purchasing an additional 422 shares during the period. 99.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Thermon Group Price Performance

Shares of THR traded up $0.46 during trading hours on Wednesday, reaching $25.48. 143,157 shares of the stock traded hands, compared to its average volume of 169,895. The company has a market cap of $858.42 million, a P/E ratio of 18.74 and a beta of 0.96. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28. The company's 50-day moving average price is $27.77 and its two-hundred day moving average price is $28.72. Thermon Group Holdings, Inc. has a 52-week low of $23.05 and a 52-week high of $35.93.

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