Swedbank AB Has $18.35 Million Position in Thermon Group Holdings, Inc. (NYSE:THR)

Swedbank AB reduced its position in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 3.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 615,000 shares of the technology company's stock after selling 20,000 shares during the period. Swedbank AB owned 1.82% of Thermon Group worth $18,352,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. QRG Capital Management Inc. boosted its stake in Thermon Group by 9.8% in the second quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company's stock valued at $210,000 after acquiring an additional 608 shares during the last quarter. Mercer Global Advisors Inc. ADV grew 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 worth $216,000 after purchasing an additional 613 shares during the period. The Manufacturers Life Insurance Company increased 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 valued at $523,000 after purchasing an additional 682 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Thermon Group by 8.3% in the first quarter. Lazard Asset Management LLC now owns 10,093 shares of the technology company's stock valued at $330,000 after buying an additional 774 shares during the period. Finally, Riverpoint Wealth Management Holdings LLC boosted its holdings in Thermon Group by 1.7% during the third quarter. Riverpoint Wealth Management Holdings LLC now owns 47,057 shares of the technology company's stock worth $1,404,000 after buying an additional 798 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Analysts Set New Price Targets

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

Thermon Group Trading Down 0.1 %

Shares of THR traded down $0.03 during trading hours on Wednesday, reaching $31.70. The stock had a trading volume of 209,246 shares, compared to its average volume of 195,682. The company has a market cap of $1.07 billion, a P/E ratio of 24.80 and a beta of 1.07. Thermon Group Holdings, Inc. has a 52 week low of $23.76 and a 52 week high of $35.93. The company has a quick ratio of 1.85, a current ratio of 2.80 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $28.96 and a 200 day moving average of $30.24.

Thermon Group (NYSE:THR - Get Free Report) last announced 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. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%. The company had revenue of $114.60 million during the quarter, compared to the consensus estimate of $116.19 million. During the same period in the prior year, the company earned $0.49 earnings per share. The company's revenue for the quarter was down 7.4% compared to the same quarter last year. On average, sell-side analysts expect that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current fiscal year.

About Thermon Group

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.