Thermon Group (NYSE:THR) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Thermon Group Holdings, Inc. (NYSE:THR) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $29.23 and traded as high as $29.62. Thermon Group shares last traded at $29.59, with a volume of 322,223 shares trading hands.

Analyst Upgrades and Downgrades

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

Thermon Group Stock Performance

The stock has a market cap of $996.72 million, a P/E ratio of 21.75 and a beta of 0.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71. The company has a fifty day moving average of $28.82 and a 200 day moving average of $29.23.

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

Institutional Trading of Thermon Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its holdings in shares of Thermon Group by 4.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 254,351 shares of the technology company’s stock worth $7,318,000 after acquiring an additional 10,714 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Thermon Group by 14.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,269 shares of the technology company’s stock valued at $2,223,000 after purchasing an additional 9,718 shares during the period. Point72 Asset Management L.P. purchased a new position in Thermon Group in the 4th quarter worth about $192,000. ProShare Advisors LLC purchased a new position in Thermon Group in the 4th quarter worth about $270,000. Finally, Meros Investment Management LP lifted its stake in Thermon Group by 3.9% during the fourth quarter. Meros Investment Management LP now owns 222,684 shares of the technology company’s stock valued at $6,407,000 after buying an additional 8,297 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

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.