Thermon Group (NYSE:THR) Stock Passes Above 200-Day Moving Average - Here's Why

Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $29.29 and traded as high as $30.13. Thermon Group shares last traded at $29.76, with a volume of 186,927 shares traded.

Analyst Upgrades and Downgrades

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

Thermon Group Trading Down 2.9 %

The firm has a 50-day moving average of $28.98 and a 200 day moving average of $29.29. The company has a market cap of $969.03 million, a P/E ratio of 21.15 and a beta of 1.10. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28.

Thermon Group (NYSE:THR - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 predict that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP David Buntin sold 28,137 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $32.15, for a total transaction of $904,604.55. Following the transaction, the senior vice president now owns 57,773 shares of the company's stock, 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in THR. Principal Financial Group Inc. acquired a new stake in shares of Thermon Group in the 3rd quarter worth about $481,000. Barclays PLC boosted its holdings in Thermon Group by 312.1% during the 3rd 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 during the last quarter. Wellington Management Group LLP grew its stake in shares of Thermon Group by 15.5% in the 3rd 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. raised its holdings in shares of Thermon Group by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 274,227 shares of the technology company's stock valued at $8,183,000 after purchasing an additional 27,235 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Thermon Group by 10.0% during the third quarter. FMR LLC now owns 2,186,280 shares of the technology company's stock valued at $65,239,000 after purchasing an additional 198,642 shares in the last quarter. Institutional investors own 99.76% 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.