Charles Schwab Investment Management Inc. Boosts Stock Position in Thermon Group Holdings, Inc. (NYSE:THR)

Charles Schwab Investment Management Inc. raised its position in Thermon Group Holdings, Inc. (NYSE:THR) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 410,574 shares of the technology company’s stock after purchasing an additional 29,146 shares during the period. Charles Schwab Investment Management Inc. owned about 1.22% of Thermon Group worth $11,812,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. acquired a new stake in shares of Thermon Group during the third quarter worth $481,000. Victory Capital Management Inc. lifted its position in Thermon Group by 11.1% during the third quarter. Victory Capital Management Inc. now owns 40,000 shares of the technology company’s stock worth $1,194,000 after buying an additional 4,000 shares during the period. Algert Global LLC boosted its stake in Thermon Group by 56.2% in the 3rd quarter. Algert Global LLC now owns 47,607 shares of the technology company’s stock worth $1,421,000 after buying an additional 17,124 shares during the last quarter. D.A. Davidson & CO. grew its holdings in Thermon Group by 1.8% in the 3rd 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 during the period. Finally, FMR LLC increased its stake in shares of Thermon Group by 10.0% during the 3rd quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock valued at $65,239,000 after acquiring an additional 198,642 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Thermon Group Price Performance

Shares of THR stock opened at $29.26 on Friday. The firm has a fifty day simple moving average of $28.94 and a 200-day simple moving average of $29.19. The company has a market capitalization of $985.60 million, a PE ratio of 21.51 and a beta of 0.98. Thermon Group Holdings, Inc. has a twelve month low of $25.76 and a twelve month high of $35.93. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28.

Thermon Group (NYSE:THR) last issued its quarterly earnings data 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%. Equities research analysts anticipate that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research report 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.