Thermon Group (NYSE:THR) Posts Quarterly Earnings Results, Hits Estimates

Thermon Group (NYSE:THR – Get Rating) released its earnings results on Thursday. The technology company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41, Yahoo Finance reports. Thermon Group had a return on equity of 12.25% and a net margin of 8.24%. The business had revenue of $122.48 million for the quarter, compared to the consensus estimate of $114.89 million. During the same quarter last year, the business posted $0.31 earnings per share.

Thermon Group Stock Performance

Shares of Thermon Group stock opened at $22.54 on Friday. The business’s 50 day moving average price is $22.64 and its 200 day moving average price is $22.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.47 and a current ratio of 2.31. The company has a market cap of $755.09 million, a price-to-earnings ratio of 21.67 and a beta of 1.26. Thermon Group has a one year low of $13.26 and a one year high of $27.85.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Thermon Group in a research report on Thursday, May 18th. They set a “strong-buy” rating on the stock.

Institutional Investors Weigh In On Thermon Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in THR. FMR LLC increased its stake in Thermon Group by 89.3% during the first quarter. FMR LLC now owns 873,922 shares of the technology company’s stock worth $21,778,000 after acquiring an additional 412,260 shares during the last quarter. Millennium Management LLC grew its stake in shares of Thermon Group by 340.4% in the fourth quarter. Millennium Management LLC now owns 363,465 shares of the technology company’s stock valued at $7,298,000 after buying an additional 280,942 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Thermon Group in the first quarter valued at $283,000. Vanguard Group Inc. grew its stake in shares of Thermon Group by 4.1% in the third quarter. Vanguard Group Inc. now owns 3,062,948 shares of the technology company’s stock valued at $47,200,000 after buying an additional 121,643 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Thermon Group by 57.8% in the second quarter. Goldman Sachs Group Inc. now owns 289,693 shares of the technology company’s stock valued at $4,070,000 after buying an additional 106,164 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Thermon Group Company Profile

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Thermon Group Holdings, Inc engages in the development, manufacture, and trade of engineered thermal solutions for process industries. It operates through the following geographical segments: United States & Latin America (US-LAM), Canada, Europe, Middle East & Africa (EMEA), and Asia Pacific (APAC).