Harvey Partners LLC Decreases Stake in Thermon Group Holdings, Inc. (NYSE:THR)

Harvey Partners LLC lowered its holdings in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 841,055 shares of the technology company's stock after selling 53,945 shares during the quarter. Thermon Group accounts for about 2.9% of Harvey Partners LLC's investment portfolio, making the stock its 15th biggest holding. Harvey Partners LLC owned 2.50% of Thermon Group worth $25,097,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. purchased a new stake in Thermon Group during the third quarter valued at $481,000. Assenagon Asset Management S.A. increased its position in Thermon Group by 169.1% during the second quarter. Assenagon Asset Management S.A. now owns 200,354 shares of the technology company's stock valued at $6,163,000 after acquiring an additional 125,903 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Thermon Group by 806.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 71,299 shares of the technology company's stock valued at $2,193,000 after acquiring an additional 63,431 shares during the last quarter. Riverpoint Wealth Management Holdings LLC purchased a new stake in Thermon Group during the second quarter valued at $1,423,000. Finally, Mercer Global Advisors Inc. ADV increased its position in 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 last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

Wall Street Analysts Forecast Growth

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

Thermon Group Stock Performance

NYSE:THR traded down $0.23 during mid-day trading on Tuesday, hitting $31.93. 156,081 shares of the company traded hands, compared to its average volume of 195,120. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 25.06 and a beta of 1.10. 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 stock's fifty day moving average price is $29.09 and its 200-day moving average price is $30.17. Thermon Group Holdings, Inc. has a one year low of $23.76 and a one year high of $35.93.

Thermon Group (NYSE:THR - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.03. The firm had revenue of $114.60 million during 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 business's quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 earnings per share. Research analysts anticipate that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current fiscal 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.