272 Capital LP Invests $3.17 Million in Thermon Group Holdings, Inc. (NYSE:THR)

272 Capital LP bought a new position in Thermon Group Holdings, Inc. (NYSE:THR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 106,318 shares of the technology company’s stock, valued at approximately $3,173,000. Thermon Group comprises 1.6% of 272 Capital LP’s investment portfolio, making the stock its 24th largest position.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in Thermon Group by 2.1% in the third quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock valued at $595,000 after acquiring an additional 422 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Thermon Group by 1.8% in the third quarter. D.A. Davidson & CO. now owns 29,282 shares of the technology company’s stock valued at $874,000 after acquiring an additional 506 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Thermon Group by 9.8% in the second quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock valued at $210,000 after acquiring an additional 608 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Thermon Group by 9.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock valued at $216,000 after acquiring an additional 613 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Thermon Group by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock valued at $523,000 after acquiring an additional 682 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Thermon Group Price Performance

Shares of NYSE:THR opened at $31.60 on Friday. Thermon Group Holdings, Inc. has a fifty-two week low of $23.76 and a fifty-two week high of $35.93. The business has a 50-day simple moving average of $29.53 and a two-hundred day simple moving average of $30.06. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 25.02 and a beta of 1.10.

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. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%. The business had revenue of $114.60 million during the quarter, compared to analyst estimates of $116.19 million. During the same quarter in the previous year, the firm earned $0.49 EPS. Thermon Group’s revenue was down 7.4% on a year-over-year basis. On average, analysts expect that Thermon Group Holdings, Inc. will post 1.79 earnings per share 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 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.