Principal Financial Group Inc. Acquires New Shares in Thermon Group Holdings, Inc. (NYSE:THR)

Principal Financial Group Inc. bought a new stake in Thermon Group Holdings, Inc. (NYSE:THR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,125 shares of the technology company’s stock, valued at approximately $481,000.

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

Insider Buying and Selling

In other Thermon Group news, SVP David Buntin sold 28,137 shares of Thermon Group stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $32.15, for a total transaction of $904,604.55. Following the sale, the senior vice president now 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is owned by company insiders.

Thermon Group Price Performance

Thermon Group stock opened at $29.31 on Monday. 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 market capitalization of $987.31 million, a P/E ratio of 22.90 and a beta of 1.11. The firm has a fifty day moving average of $29.87 and a 200-day moving average of $29.81. Thermon Group Holdings, Inc. has a 52-week low of $23.76 and a 52-week high of $35.93.

Thermon Group (NYSE:THR) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The firm had revenue of $114.60 million for the quarter, compared to analyst estimates of $116.19 million. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%. The firm’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 EPS. As a group, analysts predict that Thermon Group Holdings, Inc. will post 1.79 EPS for the current year.

Analysts Set New Price Targets

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

About Thermon Group

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.