Principal Financial Group Inc. Makes New $481,000 Investment in Thermon Group Holdings, Inc. (NYSE:THR)

Principal Financial Group Inc. acquired a new stake in Thermon Group Holdings, Inc. (NYSE:THR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 16,125 shares of the technology company’s stock, valued at approximately $481,000.

Several other institutional investors also recently modified their holdings of THR. Harbor Capital Advisors Inc. grew its holdings in Thermon Group by 131.6% during the third quarter. Harbor Capital Advisors Inc. now owns 23,232 shares of the technology company’s stock worth $693,000 after purchasing an additional 13,199 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Thermon Group by 1.0% in the third quarter. Assenagon Asset Management S.A. now owns 202,389 shares of the technology company’s stock valued at $6,039,000 after buying an additional 2,035 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Thermon Group by 4.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 38,341 shares of the technology company’s stock worth $1,144,000 after acquiring an additional 1,754 shares during the period. Wedge Capital Management L L P NC increased its holdings in shares of Thermon Group by 6.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 46,643 shares of the technology company’s stock worth $1,392,000 after acquiring an additional 3,009 shares during the last quarter. Finally, Algert Global LLC raised its stake in Thermon Group by 156.4% in the 2nd quarter. Algert Global LLC now owns 30,483 shares of the technology company’s stock valued at $938,000 after acquiring an additional 18,593 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Thermon Group Trading Up 2.5 %

Shares of NYSE:THR opened at $31.97 on Monday. Thermon Group Holdings, Inc. has a 12-month low of $23.76 and a 12-month high of $35.93. The business has a 50 day moving average of $28.86 and a 200-day moving average of $30.28. The company has a quick ratio of 1.85, a current ratio of 2.80 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.08 billion, a PE ratio of 24.98 and a beta of 1.07.

Thermon Group (NYSE:THR) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The business had revenue of $114.60 million during the quarter, compared to the consensus estimate of $116.19 million. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. As a group, equities research analysts forecast that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current year.

Analyst Ratings Changes

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