Victory Capital Management Inc. Grows Stock Position in Thermon Group Holdings, Inc. (NYSE:THR)

Victory Capital Management Inc. lifted its position in Thermon Group Holdings, Inc. (NYSE:THR) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,750 shares of the technology company’s stock after purchasing an additional 2,750 shares during the quarter. Victory Capital Management Inc. owned about 0.13% of Thermon Group worth $1,230,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of THR. FMR LLC grew its holdings in Thermon Group by 10.0% during the third quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock worth $65,239,000 after acquiring an additional 198,642 shares during the period. Wellington Management Group LLP grew its holdings in Thermon Group by 15.5% during the third quarter. Wellington Management Group LLP now owns 1,324,609 shares of the technology company’s stock worth $39,526,000 after acquiring an additional 178,017 shares during the period. Lightrock Netherlands B.V. acquired a new stake in Thermon Group during the fourth quarter worth about $4,995,000. Needham Investment Management LLC grew its holdings in Thermon Group by 21.5% during the third quarter. Needham Investment Management LLC now owns 650,000 shares of the technology company’s stock worth $19,396,000 after acquiring an additional 115,000 shares during the period. Finally, 272 Capital LP acquired a new stake in Thermon Group during the third quarter worth about $3,173,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Thermon Group Stock Up 0.2 %

Shares of THR opened at $29.96 on Thursday. The stock has a 50 day moving average price of $28.88 and a 200 day moving average price of $29.20. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.03 and a beta of 0.98. 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 one year low of $25.76 and a one year high of $35.93.

Thermon Group (NYSE:THR) last released its quarterly earnings data on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current fiscal year.

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.