Envestnet Asset Management Inc. Purchases 2,562 Shares of Thermon Group Holdings Inc (NYSE:THR)

Envestnet Asset Management Inc. increased its position in Thermon Group Holdings Inc (NYSE:THR) by 13.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,308 shares of the technology company’s stock after acquiring an additional 2,562 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Thermon Group worth $490,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quantamental Technologies LLC raised its holdings in Thermon Group by 75.1% in the 2nd quarter. Quantamental Technologies LLC now owns 2,099 shares of the technology company’s stock worth $54,000 after acquiring an additional 900 shares during the period. Meeder Asset Management Inc. bought a new position in Thermon Group in the 2nd quarter worth $97,000. Bank of Montreal Can raised its holdings in Thermon Group by 134.6% in the 2nd quarter. Bank of Montreal Can now owns 4,718 shares of the technology company’s stock worth $121,000 after acquiring an additional 2,707 shares during the period. Panagora Asset Management Inc. bought a new position in Thermon Group in the 2nd quarter worth $196,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Thermon Group in the 2nd quarter worth $230,000.

NYSE THR opened at $26.44 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.41 and a quick ratio of 2.46. The firm has a market capitalization of $883.29 million, a price-to-earnings ratio of 22.22 and a beta of 1.45. The company’s fifty day moving average is $23.66 and its two-hundred day moving average is $24.03. Thermon Group Holdings Inc has a 52-week low of $18.37 and a 52-week high of $27.73.

Thermon Group (NYSE:THR) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10. The company had revenue of $102.90 million for the quarter, compared to analyst estimates of $92.24 million. Thermon Group had a net margin of 5.81% and a return on equity of 10.91%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. As a group, sell-side analysts expect that Thermon Group Holdings Inc will post 1.35 earnings per share for the current fiscal year.

In related news, SVP James Pribble purchased 1,400 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $21.35 per share, for a total transaction of $29,890.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Several research firms have issued reports on THR. Zacks Investment Research lowered shares of Thermon Group from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Evercore ISI restated a “hold” rating and issued a $28.00 price target on shares of Thermon Group in a research report on Wednesday. Finally, ValuEngine lowered shares of Thermon Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st.

About Thermon Group

Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.

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Institutional Ownership by Quarter for Thermon Group (NYSE:THR)

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