Swedbank AB Sells 64,000 Shares of Thermon Group Holdings, Inc. $THR

Swedbank AB trimmed its holdings in Thermon Group Holdings, Inc. (NYSE:THR) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 694,000 shares of the technology company’s stock after selling 64,000 shares during the period. Swedbank AB’s holdings in Thermon Group were worth $25,789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC grew its stake in Thermon Group by 2.3% in the 3rd quarter. Intech Investment Management LLC now owns 14,346 shares of the technology company’s stock valued at $383,000 after buying an additional 327 shares during the last quarter. Federated Hermes Inc. grew its stake in Thermon Group by 18.5% in the 3rd quarter. Federated Hermes Inc. now owns 2,615 shares of the technology company’s stock valued at $70,000 after buying an additional 409 shares during the last quarter. Assetmark Inc. boosted its stake in Thermon Group by 68.1% during the 3rd quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock valued at $41,000 after purchasing an additional 620 shares during the period. Legal & General Group Plc boosted its stake in Thermon Group by 2.2% during the 3rd quarter. Legal & General Group Plc now owns 38,133 shares of the technology company’s stock valued at $1,019,000 after purchasing an additional 807 shares during the period. Finally, Riverpoint Wealth Management Holdings LLC boosted its stake in Thermon Group by 1.7% during the 3rd quarter. Riverpoint Wealth Management Holdings LLC now owns 50,360 shares of the technology company’s stock valued at $1,346,000 after purchasing an additional 830 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Thermon Group Stock Up 0.1%

Shares of NYSE THR opened at $65.77 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.90 and a quick ratio of 1.84. Thermon Group Holdings, Inc. has a 1 year low of $23.86 and a 1 year high of $71.24. The company has a 50 day simple moving average of $56.48 and a 200 day simple moving average of $46.82. The firm has a market cap of $2.16 billion, a PE ratio of 49.08 and a beta of 0.83.

Thermon Group (NYSE:THR) last announced its quarterly earnings data on Tuesday, May 19th. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The company had revenue of $148.33 million for the quarter, compared to analyst estimates of $137.85 million. Thermon Group had a return on equity of 13.53% and a net margin of 8.31%.The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS. On average, 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.