Riverpoint Wealth Management Holdings LLC Purchases 798 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Riverpoint Wealth Management Holdings LLC grew its position in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,057 shares of the technology company’s stock after purchasing an additional 798 shares during the period. Thermon Group comprises about 0.4% of Riverpoint Wealth Management Holdings LLC’s holdings, making the stock its 26th largest holding. Riverpoint Wealth Management Holdings LLC owned approximately 0.14% of Thermon Group worth $1,404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of THR. Quest Partners LLC boosted its stake in shares of Thermon Group by 2,375.0% in the 2nd quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,045 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Thermon Group during the second quarter valued at about $40,000. Meeder Asset Management Inc. bought a new position in shares of Thermon Group during the second quarter valued at about $60,000. EntryPoint Capital LLC increased its holdings in shares of Thermon Group by 421.1% in the first quarter. EntryPoint Capital LLC now owns 6,331 shares of the technology company’s stock worth $207,000 after buying an additional 5,116 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in shares of Thermon Group by 9.8% in the 2nd quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock valued at $210,000 after acquiring an additional 608 shares during the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Thermon Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th.

Thermon Group Trading Down 2.0 %

Shares of THR opened at $28.45 on Monday. The stock has a market capitalization of $961.61 million, a P/E ratio of 22.23 and a beta of 1.07. Thermon Group Holdings, Inc. has a twelve month low of $23.76 and a twelve month high of $35.93. The company has a quick ratio of 1.73, a current ratio of 2.61 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $28.49 and a two-hundred day simple moving average of $30.43.

Thermon Group (NYSE:THR) last posted its earnings results on Thursday, November 7th. The technology company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Thermon Group had a net margin of 8.89% and a return on equity of 12.19%. The company had revenue of $114.60 million during the quarter, compared to analyst estimates of $116.19 million. During the same period in the prior year, the business posted $0.49 earnings per share. Thermon Group’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, research analysts anticipate that Thermon Group Holdings, Inc. will post 1.79 EPS 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 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.