Franklin Resources Inc. Has $595,000 Holdings in Thermon Group Holdings, Inc. (NYSE:THR)

Franklin Resources Inc. grew its holdings in Thermon Group Holdings, Inc. (NYSE:THR) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,665 shares of the technology company’s stock after purchasing an additional 422 shares during the period. Franklin Resources Inc. owned approximately 0.06% of Thermon Group worth $595,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in Thermon Group by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 139,288 shares of the technology company’s stock worth $4,284,000 after acquiring an additional 11,812 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Thermon Group by 806.2% during the 2nd 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 period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Thermon Group by 9.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,403 shares of the technology company’s stock valued at $289,000 after acquiring an additional 804 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Thermon Group by 2.3% in the second quarter. Rhumbline Advisers now owns 54,834 shares of the technology company’s stock valued at $1,687,000 after purchasing an additional 1,208 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Thermon Group by 16.1% during the second quarter. Victory Capital Management Inc. now owns 36,000 shares of the technology company’s stock worth $1,107,000 after purchasing an additional 5,000 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Thermon Group Stock Performance

THR stock opened at $28.48 on Tuesday. The company has a 50 day moving average price of $29.74 and a 200 day moving average price of $29.83. The stock has a market capitalization of $959.35 million, a PE ratio of 22.25 and a beta of 1.10. Thermon Group Holdings, Inc. has a fifty-two week low of $23.76 and a fifty-two week high of $35.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85.

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

Insider Transactions at Thermon Group

In other news, SVP David Buntin sold 28,137 shares of Thermon Group stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $32.15, for a total transaction of $904,604.55. Following the transaction, the senior vice president now owns 57,773 shares in the company, valued at $1,857,401.95. The trade was a 32.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded 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.