Thermon Group (NYSE:THR) Shares Gap Up on Better-Than-Expected Earnings

Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report)'s share price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $26.95, but opened at $28.87. Thermon Group shares last traded at $26.55, with a volume of 26,056 shares traded.

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 11.77% and a net margin of 9.48%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Thermon Group news, SVP David Buntin sold 28,137 shares of the firm's 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 completion of the transaction, the senior vice president now directly owns 57,773 shares in the company, valued at approximately $1,857,401.95. This trade represents a 32.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. purchased a new stake in Thermon Group in the 3rd quarter worth approximately $481,000. Barclays PLC grew its stake in Thermon Group by 312.1% during the third quarter. Barclays PLC now owns 54,149 shares of the technology company's stock worth $1,616,000 after buying an additional 41,009 shares during the period. Wellington Management Group LLP increased its position in shares of Thermon Group by 15.5% in the third 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 stake in shares of Thermon Group by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 274,227 shares of the technology company's stock valued at $8,183,000 after acquiring an additional 27,235 shares during the period. Finally, FMR LLC boosted its position in Thermon Group by 10.0% during the 3rd quarter. FMR LLC now owns 2,186,280 shares of the technology company's stock worth $65,239,000 after purchasing an additional 198,642 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Thermon Group Trading Up 3.9 %

The firm has a fifty day moving average of $29.40 and a 200-day moving average of $29.41. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80. The stock has a market capitalization of $962.89 million, a price-to-earnings ratio of 21.02 and a beta of 1.10.

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.