Federated Hermes Inc. Buys 4,324 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Federated Hermes Inc. grew its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 262,363 shares of the technology company’s stock after purchasing an additional 4,324 shares during the period. Federated Hermes Inc. owned about 0.78% of Thermon Group worth $8,545,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in THR. Hennion & Walsh Asset Management Inc. bought a new stake in Thermon Group during the 3rd quarter worth approximately $248,000. Premier Fund Managers Ltd bought a new position in shares of Thermon Group in the third quarter valued at approximately $254,000. Principal Financial Group Inc. grew its holdings in shares of Thermon Group by 46.5% in the third quarter. Principal Financial Group Inc. now owns 12,068 shares of the technology company’s stock valued at $332,000 after acquiring an additional 3,829 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Thermon Group in the third quarter valued at approximately $365,000. Finally, SG Americas Securities LLC bought a new position in shares of Thermon Group in the third quarter valued at approximately $385,000. 99.76% of the stock is owned by institutional investors.

Insider Activity at Thermon Group

In other news, Director Roger L. Fix acquired 1,555 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average price of $25.70 per share, for a total transaction of $39,963.50. Following the completion of the purchase, the director now owns 28,273 shares in the company, valued at $726,616.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is owned by company insiders.

Thermon Group Price Performance

Thermon Group stock opened at $31.05 on Thursday. Thermon Group Holdings, Inc. has a 12 month low of $20.56 and a 12 month high of $34.07. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.35. The business’s 50 day simple moving average is $29.75 and its 200 day simple moving average is $29.98. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 21.56 and a beta of 1.18.

Thermon Group (NYSE:THR) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.50 by $0.09. Thermon Group had a return on equity of 14.60% and a net margin of 10.05%. The business had revenue of $136.43 million for the quarter, compared to the consensus estimate of $128.22 million. Sell-side analysts forecast that Thermon Group Holdings, Inc. will post 1.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on THR. StockNews.com raised Thermon Group from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Roth Mkm began coverage on Thermon Group in a report on Wednesday, March 6th. They issued a “buy” rating and a $36.00 target price for the company.

About Thermon Group

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.