Assetmark Inc. Takes $26,000 Position in Thermon Group Holdings, Inc. (NYSE:THR)

Assetmark Inc. purchased a new stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 910 shares of the technology company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC bought a new position in Thermon Group in the fourth quarter valued at about $47,000. Congress Asset Management Co. bought a new position in Thermon Group in the fourth quarter valued at about $227,000. Principal Financial Group Inc. bought a new position in Thermon Group in the third quarter valued at about $481,000. Jacobs Levy Equity Management Inc. lifted its holdings in Thermon Group by 8.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 18,715 shares of the technology company’s stock valued at $558,000 after acquiring an additional 1,529 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Thermon Group by 2.1% in the third quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock valued at $595,000 after acquiring an additional 422 shares during the period. 99.76% of the stock is owned by institutional investors.

Thermon Group Price Performance

Shares of THR stock opened at $29.59 on Monday. Thermon Group Holdings, Inc. has a 52-week low of $25.76 and a 52-week high of $35.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56. The firm has a market capitalization of $996.72 million, a P/E ratio of 21.75 and a beta of 0.98. The stock has a 50 day moving average price of $28.83 and a 200 day moving average price of $29.21.

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

Analyst Ratings Changes

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

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.