AQR Capital Management LLC Sells 34,560 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

AQR Capital Management LLC cut its stake in Thermon Group Holdings, Inc. (NYSE:THR) by 57.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,832 shares of the technology company’s stock after selling 34,560 shares during the period. AQR Capital Management LLC owned about 0.08% of Thermon Group worth $795,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in THR. First Eagle Investment Management LLC purchased a new position in Thermon Group in the 1st quarter worth approximately $1,391,000. Swedbank AB bought a new stake in Thermon Group during the 1st quarter valued at approximately $20,254,000. New South Capital Management Inc. increased its position in Thermon Group by 10.5% in the first quarter. New South Capital Management Inc. now owns 734,185 shares of the technology company’s stock worth $24,023,000 after purchasing an additional 69,666 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Thermon Group by 169.1% in the second quarter. Assenagon Asset Management S.A. now owns 200,354 shares of the technology company’s stock worth $6,163,000 after buying an additional 125,903 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Thermon Group by 806.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 71,299 shares of the technology company’s stock worth $2,193,000 after purchasing an additional 63,431 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Thermon Group Trading Up 1.8 %

THR opened at $28.80 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.73 and a current ratio of 2.61. The stock has a market capitalization of $973.44 million, a PE ratio of 20.14 and a beta of 1.05. The business’s 50 day moving average price is $29.28 and its 200 day moving average price is $30.98. Thermon Group Holdings, Inc. has a one year low of $23.76 and a one year high of $35.93.

Thermon Group (NYSE:THR) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. The firm had revenue of $115.10 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.40 EPS. As a group, equities research analysts expect that Thermon Group Holdings, Inc. will post 1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Thermon Group from a “hold” rating to a “buy” rating in a research report 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.