Thermon Group (NYSE:THR) Shares Gap Up Following Strong Earnings

Thermon Group Holdings, Inc. (NYSE:THR) shares gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $26.95, but opened at $28.87. Thermon Group shares last traded at $26.55, with a volume of 26,056 shares traded.

The technology company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%.

Insider Buying and Selling

In other Thermon Group news, SVP David Buntin sold 28,137 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $32.15, for a total value of $904,604.55. Following the transaction, the senior vice president now owns 57,773 shares in the company, valued at approximately $1,857,401.95. This represents a 32.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC bought a new stake in Thermon Group in the fourth quarter worth $47,000. Congress Asset Management Co. bought a new position in shares of Thermon Group in the fourth quarter valued at approximately $227,000. Principal Financial Group Inc. bought a new stake in Thermon Group during the third quarter valued at about $481,000. The Manufacturers Life Insurance Company grew its position in shares of Thermon Group by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock valued at $523,000 after purchasing an additional 682 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Thermon Group by 8.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 18,715 shares of the technology company’s stock worth $558,000 after purchasing an additional 1,529 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

Thermon Group Stock Down 1.2 %

The company has a current ratio of 2.80, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. The firm has a market cap of $897.33 million, a price-to-earnings ratio of 20.66 and a beta of 1.10. The firm has a 50-day moving average of $29.58 and a two-hundred day moving average of $29.51.

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.