Principal Financial Group Inc. Makes New $481,000 Investment in Thermon Group Holdings, Inc. (NYSE:THR)

Principal Financial Group Inc. bought a new position in Thermon Group Holdings, Inc. (NYSE:THR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,125 shares of the technology company’s stock, valued at approximately $481,000.

Other hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in Thermon Group by 113.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 20,416 shares of the technology company’s stock valued at $668,000 after purchasing an additional 10,850 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Thermon Group by 8.3% in the 1st quarter. Lazard Asset Management LLC now owns 10,093 shares of the technology company’s stock valued at $330,000 after acquiring an additional 774 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Thermon Group by 17.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 239,205 shares of the technology company’s stock valued at $7,827,000 after acquiring an additional 35,630 shares during the last quarter. Comerica Bank boosted its holdings in shares of Thermon Group by 8,193.5% during the 1st quarter. Comerica Bank now owns 12,855 shares of the technology company’s stock valued at $421,000 after acquiring an additional 12,700 shares in the last quarter. Finally, Swedbank AB bought a new stake in Thermon Group during the 1st quarter worth $20,254,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Thermon Group Trading Up 2.5 %

THR opened at $31.97 on Monday. The company’s 50 day moving average price is $28.86 and its two-hundred day moving average price is $30.28. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 24.98 and a beta of 1.07. Thermon Group Holdings, Inc. has a fifty-two week low of $23.76 and a fifty-two week high of $35.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85.

Thermon Group (NYSE:THR) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. The company had revenue of $114.60 million for the quarter, compared to analysts’ expectations of $116.19 million. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%. Thermon Group’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. As a group, research analysts predict that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current year.

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.