Fmr LLC Raises Position in Thermon Group Holdings, Inc. (NYSE:THR)

FMR LLC increased its stake in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 10.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,186,280 shares of the technology company's stock after purchasing an additional 198,642 shares during the period. FMR LLC owned approximately 6.49% of Thermon Group worth $65,239,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Quest Partners LLC lifted its stake in shares of Thermon Group by 2,375.0% in the 2nd quarter. Quest Partners LLC now owns 1,089 shares of the technology company's stock valued at $33,000 after acquiring an additional 1,045 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Thermon Group in the 2nd quarter valued at $40,000. Meeder Asset Management Inc. bought a new position in shares of Thermon Group in the 2nd quarter valued at $60,000. QRG Capital Management Inc. lifted its stake in shares of Thermon Group by 9.8% in the 2nd 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. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Thermon Group by 9.6% in the 2nd 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 last quarter. Institutional investors own 99.76% of the company's stock.

Thermon Group Trading Down 0.2 %

NYSE THR traded down $0.08 on Friday, reaching $31.97. The company had a trading volume of 220,287 shares, compared to its average volume of 229,938. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 24.97 and a beta of 1.10. Thermon Group Holdings, Inc. has a fifty-two week low of $23.76 and a fifty-two week high of $35.93. The business has a 50 day moving average of $29.30 and a two-hundred day moving average of $30.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85.

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

Analysts Set New Price Targets

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

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.