JPMorgan Chase & Co. Grows Position in Thermon Group Holdings, Inc. (NYSE:THR)

JPMorgan Chase & Co. raised its position in Thermon Group Holdings, Inc. (NYSE:THR) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 274,227 shares of the technology company’s stock after buying an additional 27,235 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.81% of Thermon Group worth $8,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Quest Partners LLC raised its stake in Thermon Group by 2,375.0% during the 2nd quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,045 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Thermon Group during the second quarter worth approximately $40,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of 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 worth $216,000 after purchasing an additional 613 shares during the period. Dark Forest Capital Management LP grew its position in Thermon Group by 71.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 12,936 shares of the technology company’s stock valued at $398,000 after buying an additional 5,384 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Thermon Group in the 3rd quarter valued at $481,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Thermon Group Stock Up 1.3 %

Shares of Thermon Group stock opened at $28.63 on Wednesday. The company has a market cap of $964.40 million, a P/E ratio of 22.37 and a beta of 1.11. The firm has a fifty day moving average of $30.10 and a two-hundred day moving average of $29.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80. Thermon Group Holdings, Inc. has a one year low of $23.76 and a one year high of $35.93.

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

Insider Buying and Selling at Thermon Group

In other news, SVP David Buntin sold 28,137 shares of the business’s stock in a transaction that occurred 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 through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Thermon Group 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 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.