Hennion & Walsh Asset Management Inc. Grows Stake in Thermon Group Holdings, Inc. (NYSE:THR)

Hennion & Walsh Asset Management Inc. grew its holdings in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 39.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,636 shares of the technology company’s stock after purchasing an additional 7,221 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.08% of Thermon Group worth $839,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Thermon Group by 8.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,586 shares of the technology company’s stock valued at $508,000 after buying an additional 1,238 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Thermon Group by 13.9% in the 4th quarter. New York State Common Retirement Fund now owns 14,692 shares of the technology company’s stock worth $479,000 after purchasing an additional 1,796 shares in the last quarter. Principal Financial Group Inc. grew its position in Thermon Group by 16.6% during the 4th quarter. Principal Financial Group Inc. now owns 14,074 shares of the technology company’s stock worth $458,000 after purchasing an additional 2,006 shares during the last quarter. Deutsche Bank AG increased its stake in Thermon Group by 0.7% during the 3rd quarter. Deutsche Bank AG now owns 328,402 shares of the technology company’s stock valued at $9,021,000 after purchasing an additional 2,377 shares in the last quarter. Finally, AJOVista LLC purchased a new position in shares of Thermon Group in the fourth quarter worth $85,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com raised Thermon Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. CJS Securities assumed coverage on Thermon Group in a research note on Monday, April 29th. They issued an “outperform” rating and a $42.00 price objective for the company. Finally, Roth Mkm lifted their target price on Thermon Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, May 30th.

Thermon Group Trading Down 3.3 %

Shares of Thermon Group stock opened at $29.73 on Tuesday. Thermon Group Holdings, Inc. has a 1 year low of $23.76 and a 1 year high of $35.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.51 and a quick ratio of 1.72. The stock has a market cap of $1.01 billion, a PE ratio of 19.82 and a beta of 1.08. The firm has a fifty day moving average price of $32.18 and a 200 day moving average price of $30.88.

Thermon Group (NYSE:THR) last issued its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Thermon Group had a return on equity of 13.64% and a net margin of 10.43%. The business had revenue of $127.65 million during the quarter, compared to analysts’ expectations of $127.19 million. Equities research analysts predict that Thermon Group Holdings, Inc. will post 1.98 earnings per share for the current year.

Insider Transactions at Thermon Group

In related news, SVP Mark John Roberts sold 2,910 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $33.35, for a total value of $97,048.50. Following the completion of the transaction, the senior vice president now directly owns 50,920 shares in the company, valued at approximately $1,698,182. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Kevin J. Mcginty sold 5,000 shares of Thermon Group stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.84, for a total value of $164,200.00. Following the sale, the director now owns 38,109 shares of the company’s stock, valued at approximately $1,251,499.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark John Roberts sold 2,910 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $33.35, for a total transaction of $97,048.50. Following the transaction, the senior vice president now owns 50,920 shares of the company’s stock, valued at $1,698,182. The disclosure for this sale can be found here. Insiders have sold 13,910 shares of company stock valued at $462,849 in the last 90 days. 2.40% of the stock is currently owned by company insiders.

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 provides 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.