Principal Financial Group Inc. Buys 1,226 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Principal Financial Group Inc. raised its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,351 shares of the technology company’s stock after acquiring an additional 1,226 shares during the period. Principal Financial Group Inc. owned about 0.05% of Thermon Group worth $499,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Congress Asset Management Co. purchased a new stake in shares of Thermon Group in the fourth quarter valued at about $227,000. Jacobs Levy Equity Management Inc. grew its position in Thermon Group by 8.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 18,715 shares of the technology company’s stock worth $558,000 after purchasing an additional 1,529 shares in the last quarter. Franklin Resources Inc. increased its stake in 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 buying an additional 422 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Thermon Group by 131.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,232 shares of the technology company’s stock worth $693,000 after buying an additional 13,199 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Thermon Group by 1.8% in the 3rd quarter. D.A. Davidson & CO. now owns 29,282 shares of the technology company’s stock worth $874,000 after buying an additional 506 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Thermon Group

In other Thermon Group news, SVP David Buntin sold 28,137 shares of the 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 completion of the transaction, the senior vice president now owns 57,773 shares in the company, valued at $1,857,401.95. This trade represents a 32.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by corporate insiders.

Thermon Group Price Performance

Shares of NYSE:THR opened at $27.96 on Friday. The company has a market capitalization of $941.91 million, a P/E ratio of 20.56 and a beta of 1.10. The company’s 50-day moving average is $28.84 and its 200 day moving average is $29.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56. Thermon Group Holdings, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $35.93.

Thermon Group (NYSE:THR) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. On average, equities research analysts forecast that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

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 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.