Thermon Group (NYSE:THR) Shares Gap Up Following Better-Than-Expected Earnings

Thermon Group Holdings, Inc. (NYSE:THR) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $26.95, but opened at $28.87. Thermon Group shares last traded at $26.55, with a volume of 26,056 shares.

The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%.

Insider Activity

In related news, SVP David Buntin sold 28,137 shares of the company’s 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 transaction, the senior vice president now owns 57,773 shares of the company’s stock, valued at $1,857,401.95. This represents a 32.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Thermon Group

A number of hedge funds and other institutional investors have recently bought and sold shares of THR. Franklin Resources Inc. increased its holdings in shares of Thermon Group by 2.1% in the 3rd quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock valued at $595,000 after purchasing an additional 422 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Thermon Group by 1.8% in the third quarter. D.A. Davidson & CO. now owns 29,282 shares of the technology company’s stock valued at $874,000 after buying an additional 506 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Thermon Group by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock valued at $523,000 after acquiring an additional 682 shares during the period. Riverpoint Wealth Management Holdings LLC lifted its position in shares of Thermon Group by 1.7% during the 3rd quarter. Riverpoint Wealth Management Holdings LLC now owns 47,057 shares of the technology company’s stock valued at $1,404,000 after acquiring an additional 798 shares during the period. Finally, Assetmark Inc. purchased a new stake in shares of Thermon Group during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Thermon Group Trading Down 1.5 %

The firm has a market cap of $894.27 million, a price-to-earnings ratio of 20.74 and a beta of 1.10. The business has a fifty day moving average of $29.48 and a two-hundred day moving average of $29.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80.

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.