Rice Hall James & Associates LLC Cuts Position in Thermon Group Holdings, Inc. (NYSE:THR)

Rice Hall James & Associates LLC trimmed its stake in Thermon Group Holdings, Inc. (NYSE:THR) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,756 shares of the technology company’s stock after selling 655 shares during the period. Rice Hall James & Associates LLC’s holdings in Thermon Group were worth $2,887,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Thermon Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 3,363,315 shares of the technology company’s stock valued at $109,543,000 after buying an additional 21,971 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Thermon Group by 144.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,868 shares of the technology company’s stock valued at $257,000 after acquiring an additional 4,654 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Thermon Group by 55.9% in the first quarter. BNP Paribas Financial Markets now owns 19,738 shares of the technology company’s stock valued at $646,000 after acquiring an additional 7,076 shares in the last quarter. Hunter Associates Investment Management LLC purchased a new position in Thermon Group in the first quarter worth $415,000. Finally, Clifford Capital Partners LLC increased its position in shares of Thermon Group by 5.7% during the first quarter. Clifford Capital Partners LLC now owns 22,596 shares of the technology company’s stock worth $739,000 after purchasing an additional 1,225 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Thermon Group Stock Performance

THR opened at $26.41 on Friday. The company has a market cap of $892.66 million, a P/E ratio of 18.47 and a beta of 1.07. 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’s 50-day moving average price is $28.85 and its 200-day moving average price is $30.54. Thermon Group Holdings, Inc. has a 52-week low of $23.76 and a 52-week high of $35.93.

Thermon Group (NYSE:THR) last released its earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.07. The company had revenue of $115.10 million for the quarter, compared to the consensus estimate of $115.99 million. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. Thermon Group’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. As a group, equities analysts anticipate that Thermon Group Holdings, Inc. will post 1.98 EPS for the current fiscal year.

Analyst Ratings Changes

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

Thermon Group 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.