William Blair Investment Management LLC Decreases Stock Position in Thermon Group Holdings, Inc. $THR

William Blair Investment Management LLC cut its stake in Thermon Group Holdings, Inc. (NYSE:THR) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 887,451 shares of the technology company’s stock after selling 92,897 shares during the period. William Blair Investment Management LLC owned about 2.70% of Thermon Group worth $32,978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new position in Thermon Group in the second quarter valued at $31,000. Assetmark Inc. lifted its holdings in Thermon Group by 68.1% during the 3rd quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock worth $41,000 after buying an additional 620 shares during the last quarter. Danske Bank A S purchased a new stake in Thermon Group during the 3rd quarter worth about $45,000. State of Alaska Department of Revenue purchased a new stake in Thermon Group during the 3rd quarter worth about $48,000. Finally, Federated Hermes Inc. lifted its holdings in Thermon Group by 18.5% during the 3rd quarter. Federated Hermes Inc. now owns 2,615 shares of the technology company’s stock worth $70,000 after buying an additional 409 shares during the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Thermon Group Stock Up 0.1%

Thermon Group stock opened at $65.77 on Monday. Thermon Group Holdings, Inc. has a fifty-two week low of $23.86 and a fifty-two week high of $71.24. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.84 and a current ratio of 2.90. The company has a market capitalization of $2.16 billion, a P/E ratio of 49.08 and a beta of 0.83. The stock has a 50-day simple moving average of $56.09 and a 200-day simple moving average of $46.55.

Thermon Group (NYSE:THR) last posted its earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Thermon Group had a net margin of 8.31% and a return on equity of 13.53%. The firm had revenue of $148.33 million during the quarter, compared to analysts’ expectations of $137.85 million. During the same period in the previous year, the firm posted $0.56 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts expect that Thermon Group Holdings, Inc. will post 2.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on THR shares. CJS Securities downgraded Thermon Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 25th. Wall Street Zen downgraded Thermon Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Zacks Research downgraded Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Roth Mkm downgraded Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, William Blair downgraded Thermon Group from an “outperform” rating to a “hold” rating in a report on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Thermon Group presently has an average rating of “Hold” and an average price target of $57.00.

Thermon Group Profile

Thermon Group, Inc (NYSE: THR) is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon’s core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.