Sei Investments Co. Sells 13,379 Shares of Thermon Group Holdings, Inc. $THR

Sei Investments Co. lowered its stake in Thermon Group Holdings, Inc. (NYSE:THR) by 24.5% in the 1st quarter, HoldingsChannel reports. The fund owned 41,316 shares of the technology company’s stock after selling 13,379 shares during the period. Sei Investments Co.’s holdings in Thermon Group were worth $2,082,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new stake in Thermon Group during the second quarter valued at approximately $31,000. Danske Bank A S purchased a new position in shares of Thermon Group in the 3rd quarter worth approximately $45,000. NewEdge Advisors LLC purchased a new position in shares of Thermon Group in the 3rd quarter worth approximately $83,000. Nkcfo LLC bought a new position in shares of Thermon Group during the 4th quarter valued at approximately $85,000. Finally, BNP Paribas Financial Markets increased its position in shares of Thermon Group by 62.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,236 shares of the technology company’s stock valued at $91,000 after purchasing an additional 1,245 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on THR shares. Weiss Ratings downgraded Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of Thermon Group to a “hold” rating in a research report on Saturday, May 30th. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Thermon Group has an average rating of “Hold” and a consensus target price of $57.00.

Thermon Group Stock Performance

Thermon Group stock opened at $61.14 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.69 and a quick ratio of 1.76. The firm has a market capitalization of $2.01 billion, a P/E ratio of 45.63 and a beta of 0.83. Thermon Group Holdings, Inc. has a 1-year low of $23.86 and a 1-year high of $71.87. The company’s 50-day moving average is $61.14 and its 200 day moving average is $56.12.

Thermon Group (NYSE:THR) last announced its earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The business had revenue of $148.33 million for the quarter, compared to analysts’ expectations of $137.85 million. Thermon Group had a net margin of 8.31% and a return on equity of 13.42%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. Research analysts forecast that Thermon Group Holdings, Inc. will post 2.27 EPS for the current year.

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.