Geode Capital Management LLC Has $23.06 Million Position in Thermon Group Holdings, Inc. (NYSE:THR)

Geode Capital Management LLC increased its position in shares of Thermon Group Holdings, Inc. (NYSE:THRFree Report) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 772,597 shares of the technology company’s stock after buying an additional 8,910 shares during the quarter. Geode Capital Management LLC owned 2.29% of Thermon Group worth $23,059,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in Thermon Group by 2,375.0% during the second quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,045 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Thermon Group during the second quarter valued at approximately $40,000. Meeder Asset Management Inc. acquired a new stake in Thermon Group during the second quarter valued at approximately $60,000. Mercer Global Advisors Inc. ADV boosted its holdings in Thermon Group by 9.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock valued at $216,000 after purchasing an additional 613 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Thermon Group by 9.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,403 shares of the technology company’s stock valued at $289,000 after purchasing an additional 804 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Thermon Group Price Performance

Shares of THR stock opened at $28.62 on Friday. Thermon Group Holdings, Inc. has a 12-month low of $23.76 and a 12-month high of $35.93. The firm has a market capitalization of $964.06 million, a price-to-earnings ratio of 22.36 and a beta of 1.10. The company has a quick ratio of 1.85, a current ratio of 2.80 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average of $29.74 and a 200-day moving average of $29.85.

Thermon Group (NYSE:THRGet Free Report) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%. The company had revenue of $114.60 million during the quarter, compared to analyst estimates of $116.19 million. During the same quarter in the previous year, the business earned $0.49 EPS. The firm’s revenue was down 7.4% on a year-over-year basis. On average, equities research analysts forecast that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Thermon Group from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th.

Check Out Our Latest Report on THR

Insider Buying and Selling

In other Thermon Group news, SVP David Buntin sold 28,137 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $32.15, for a total transaction of $904,604.55. Following the sale, the senior vice president now directly owns 57,773 shares of the company’s stock, valued at $1,857,401.95. The trade was a 32.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.40% of the company’s stock.

Thermon Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Thermon Group (NYSE:THR)

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