New South Capital Management Inc. Sells 657 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

New South Capital Management Inc. reduced its position in Thermon Group Holdings, Inc. (NYSE:THR) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 714,363 shares of the technology company’s stock after selling 657 shares during the quarter. New South Capital Management Inc.’s holdings in Thermon Group were worth $21,317,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. grew its position in Thermon Group by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock worth $210,000 after acquiring an additional 608 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Thermon Group by 9.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock valued at $216,000 after buying an additional 613 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Thermon Group by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock worth $523,000 after buying an additional 682 shares during the period. Lazard Asset Management LLC grew its holdings in Thermon Group by 8.3% during the 1st quarter. Lazard Asset Management LLC now owns 10,093 shares of the technology company’s stock worth $330,000 after acquiring an additional 774 shares during the last quarter. Finally, Riverpoint Wealth Management Holdings LLC raised its stake in shares of Thermon Group by 1.7% during the third quarter. Riverpoint Wealth Management Holdings LLC now owns 47,057 shares of the technology company’s stock valued at $1,404,000 after acquiring an additional 798 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Thermon Group Trading Down 0.7 %

Thermon Group stock traded down $0.20 during trading hours on Tuesday, reaching $29.24. 2,044 shares of the company’s stock were exchanged, compared to its average volume of 191,535. The firm has a market capitalization of $988.37 million, a PE ratio of 23.00 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 simple moving average is $28.45 and its 200 day simple moving average is $30.42. Thermon Group Holdings, Inc. has a twelve month low of $23.76 and a twelve month high of $35.93.

Thermon Group (NYSE:THR) last issued its earnings results on Thursday, November 7th. The technology company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The business had revenue of $114.60 million during the quarter, compared to the consensus estimate of $116.19 million. Thermon Group had a return on equity of 12.19% and a net margin of 8.89%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. Research analysts predict that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Thermon Group from a “hold” rating to a “buy” rating in a 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.