Inspire Investing LLC Acquires New Holdings in Thermon Group Holdings, Inc. (NYSE:THR)

Inspire Investing LLC bought a new position in Thermon Group Holdings, Inc. (NYSE:THR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 26,887 shares of the technology company’s stock, valued at approximately $827,000. Inspire Investing LLC owned about 0.08% of Thermon Group at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Thermon Group by 17.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 303,493 shares of the technology company’s stock worth $9,885,000 after buying an additional 44,321 shares during the last quarter. Jump Financial LLC bought a new position in Thermon Group in the fourth quarter valued at about $276,000. Dimensional Fund Advisors LP boosted its position in Thermon Group by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,775,583 shares of the technology company’s stock worth $57,833,000 after purchasing an additional 4,599 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Thermon Group by 16.6% during the 4th quarter. Principal Financial Group Inc. now owns 14,074 shares of the technology company’s stock valued at $458,000 after purchasing an additional 2,006 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Thermon Group by 595.9% during the 4th quarter. Wells Fargo & Company MN now owns 300,880 shares of the technology company’s stock valued at $9,800,000 after purchasing an additional 257,646 shares during the period. Institutional investors own 99.76% of the company’s stock.

Thermon Group Stock Down 2.2 %

NYSE THR opened at $30.06 on Friday. The stock’s 50-day moving average price is $30.34 and its 200-day moving average price is $31.01. The company has a market capitalization of $1.02 billion, a P/E ratio of 20.04 and a beta of 1.06. The company has a quick ratio of 1.73, a current ratio of 2.61 and a debt-to-equity ratio of 0.31. Thermon Group Holdings, Inc. has a 52 week low of $23.76 and a 52 week high of $35.93.

Thermon Group (NYSE:THR) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. The business had revenue of $115.10 million during the quarter, compared to analyst estimates of $115.99 million. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. On average, equities research analysts predict that Thermon Group Holdings, Inc. will post 1.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on THR. Roth Mkm raised their price objective on shares of Thermon Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. StockNews.com upgraded shares of Thermon Group from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th.

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.