New South Capital Management Inc. Lowers Stake in Thermon Group Holdings, Inc. (NYSE:THR)

New South Capital Management Inc. decreased its position in Thermon Group Holdings, Inc. (NYSE:THR) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 715,020 shares of the technology company’s stock after selling 19,165 shares during the quarter. New South Capital Management Inc. owned 2.11% of Thermon Group worth $21,994,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Thermon Group during the 4th quarter worth about $167,000. EntryPoint Capital LLC lifted its position in shares of Thermon Group by 421.1% during the 1st quarter. EntryPoint Capital LLC now owns 6,331 shares of the technology company’s stock worth $207,000 after purchasing an additional 5,116 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Thermon Group by 9.8% during the second quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock worth $210,000 after purchasing an additional 608 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Thermon Group in the first quarter valued at $255,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Thermon Group by 144.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,868 shares of the technology company’s stock valued at $257,000 after buying an additional 4,654 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on THR. StockNews.com upgraded Thermon Group from a “hold” rating to a “buy” rating in a report on Thursday. Roth Mkm increased their price target on shares of Thermon Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, May 30th.

Thermon Group Stock Performance

NYSE THR opened at $27.70 on Friday. The company has a fifty day moving average of $30.51 and a two-hundred day moving average of $30.93. The company has a market capitalization of $938.23 million, a PE ratio of 18.47 and a beta of 1.06. Thermon Group Holdings, Inc. has a 1 year low of $23.76 and a 1 year high of $35.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.61 and a quick ratio of 1.73.

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

About Thermon Group

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 provides 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.