Wedge Capital Management L L P NC Trims Position in Thermon Group Holdings, Inc. (NYSE:THR)

Wedge Capital Management L L P NC reduced its holdings in Thermon Group Holdings, Inc. (NYSE:THR) by 11.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,634 shares of the technology company’s stock after selling 5,873 shares during the period. Wedge Capital Management L L P NC owned about 0.13% of Thermon Group worth $1,342,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new position in Thermon Group during the first quarter valued at $20,415,000. Swedbank AB acquired a new position in shares of Thermon Group in the 1st quarter valued at about $20,254,000. Wells Fargo & Company MN lifted its holdings in shares of Thermon Group by 595.9% in the 4th quarter. Wells Fargo & Company MN now owns 300,880 shares of the technology company’s stock valued at $9,800,000 after buying an additional 257,646 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Thermon Group by 22.2% in the first quarter. William Blair Investment Management LLC now owns 901,244 shares of the technology company’s stock worth $29,489,000 after buying an additional 163,640 shares during the last quarter. Finally, New South Capital Management Inc. grew its holdings in Thermon Group by 10.5% during the first quarter. New South Capital Management Inc. now owns 734,185 shares of the technology company’s stock worth $24,023,000 after acquiring an additional 69,666 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com downgraded Thermon Group from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Roth Mkm increased their price target on shares of Thermon Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, CJS Securities initiated coverage on shares of Thermon Group in a research report on Monday, April 29th. They set an “outperform” rating and a $42.00 price target on the stock.

Insider Buying and Selling at Thermon Group

In related news, SVP Mark John Roberts sold 2,910 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $33.35, for a total transaction of $97,048.50. Following the completion of the transaction, the senior vice president now owns 50,920 shares in the company, valued at approximately $1,698,182. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Thermon Group news, Director John T. Nesser III sold 6,000 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $33.60, for a total value of $201,600.00. Following the transaction, the director now owns 57,315 shares in the company, valued at approximately $1,925,784. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark John Roberts sold 2,910 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $33.35, for a total transaction of $97,048.50. Following the sale, the senior vice president now directly owns 50,920 shares of the company’s stock, valued at approximately $1,698,182. The disclosure for this sale can be found here. Insiders have sold a total of 13,910 shares of company stock valued at $462,849 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Thermon Group Price Performance

NYSE THR traded up $0.22 during trading hours on Friday, reaching $29.92. The company’s stock had a trading volume of 10,989 shares, compared to its average volume of 217,008. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 19.82 and a beta of 1.08. The company’s 50-day moving average is $30.48 and its two-hundred day moving average is $30.69. 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 Holdings, Inc. has a 1-year low of $23.76 and a 1-year high of $35.93.

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

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 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.