Thermon Group (NYSE:THR) Shares Up 5.7% - Here's What Happened

Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report) traded up 5.7% on Tuesday . The company traded as high as $30.22 and last traded at $30.17. 170,505 shares were traded during mid-day trading, an increase of 13% from the average session volume of 150,759 shares. The stock had previously closed at $28.54.

Wall Street Analysts Forecast Growth

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

Thermon Group Stock Performance

The stock has a market capitalization of $1.01 billion, a P/E ratio of 21.95 and a beta of 1.10. The stock has a 50 day moving average of $29.16 and a 200 day moving average of $29.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80.

Thermon Group (NYSE:THR - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. Thermon Group had a return on equity of 11.77% and a net margin of 9.48%. Equities analysts predict that Thermon Group Holdings, Inc. will post 1.79 EPS for the current year.

Insider Buying and Selling

In other Thermon Group news, SVP David Buntin sold 28,137 shares of the business's stock in a transaction on Thursday, December 12th. The stock was 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 owns 57,773 shares in the company, valued at approximately $1,857,401.95. The trade was a 32.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in THR. Hennion & Walsh Asset Management Inc. boosted its position in Thermon Group by 4.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 38,341 shares of the technology company's stock worth $1,144,000 after acquiring an additional 1,754 shares during the period. Assenagon Asset Management S.A. boosted its position in Thermon Group by 1.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 202,389 shares of the technology company's stock worth $6,039,000 after acquiring an additional 2,035 shares during the period. Harbor Capital Advisors Inc. boosted its position in Thermon Group by 131.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,232 shares of the technology company's stock worth $693,000 after acquiring an additional 13,199 shares during the period. Principal Financial Group Inc. acquired a new position in Thermon Group during the 3rd quarter worth $481,000. Finally, Riverpoint Wealth Management Holdings LLC boosted its position in Thermon Group by 1.7% during the 3rd quarter. Riverpoint Wealth Management Holdings LLC now owns 47,057 shares of the technology company's stock worth $1,404,000 after acquiring an additional 798 shares during the period. Institutional investors and hedge funds 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.