Raymond James & Associates Has $833,000 Stock Position in Thermon Group Holdings, Inc. (NYSE:THR)

Raymond James & Associates cut its holdings in Thermon Group Holdings, Inc. (NYSE:THR) by 20.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,578 shares of the technology company’s stock after selling 6,696 shares during the period. Raymond James & Associates owned about 0.08% of Thermon Group worth $833,000 at the end of the most recent quarter.

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

Thermon Group Stock Up 0.9 %

THR stock opened at $30.02 on Tuesday. The business’s 50 day simple moving average is $29.66 and its 200 day simple moving average is $29.95. Thermon Group Holdings, Inc. has a 1-year low of $20.56 and a 1-year high of $34.07. The firm has a market capitalization of $1.01 billion, a PE ratio of 20.85 and a beta of 1.18. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.35.

Thermon Group (NYSE:THR) last released 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. The firm had revenue of $136.43 million for the quarter, compared to the consensus estimate of $128.22 million. Thermon Group had a net margin of 10.05% and a return on equity of 14.60%. As a group, research analysts anticipate that Thermon Group Holdings, Inc. will post 1.8 EPS for the current year.

Insiders Place Their Bets

In other news, Director Roger L. Fix bought 1,555 shares of the stock in a transaction dated Tuesday, February 6th. The shares were bought 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Roth Mkm initiated coverage on Thermon Group in a report on Wednesday, March 6th. They issued a “buy” rating and a $36.00 price objective for the company. StockNews.com upgraded shares of Thermon Group from a “hold” rating to a “buy” rating in a research note on Friday, April 12th.

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.