Bank of New York Mellon Corp lessened its stake in Thermon Group Holdings Inc (NYSE:THR) by 4.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 134,764 shares of the technology company’s stock after selling 6,421 shares during the period. Bank of New York Mellon Corp owned about 0.41% of Thermon Group worth $3,083,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Thermon Group in the 1st quarter valued at approximately $136,000. Nisa Investment Advisors LLC purchased a new position in Thermon Group in the 2nd quarter valued at approximately $235,000. Brown Advisory Inc. purchased a new position in Thermon Group in the 1st quarter valued at approximately $287,000. Victory Capital Management Inc. boosted its position in Thermon Group by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 16,837 shares of the technology company’s stock valued at $385,000 after buying an additional 2,309 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Thermon Group by 162.7% in the 1st quarter. JPMorgan Chase & Co. now owns 18,267 shares of the technology company’s stock valued at $409,000 after buying an additional 11,314 shares during the period.
THR has been the subject of several recent research reports. Zacks Investment Research raised shares of Thermon Group from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Tuesday, August 7th. BMO Capital Markets raised their price target on shares of Thermon Group from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, August 2nd. Finally, SunTrust Banks reissued a “hold” rating and issued a $26.00 price target on shares of Thermon Group in a research report on Tuesday, August 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Thermon Group currently has an average rating of “Buy” and a consensus price target of $28.50.
Shares of THR stock opened at $24.45 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.93 and a quick ratio of 2.66. Thermon Group Holdings Inc has a 52 week low of $20.45 and a 52 week high of $27.95. The company has a market capitalization of $839.41 million, a price-to-earnings ratio of 24.70 and a beta of 1.09.
Thermon Group (NYSE:THR) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.10. The company had revenue of $88.90 million during the quarter, compared to analysts’ expectations of $78.65 million. Thermon Group had a net margin of 4.19% and a return on equity of 9.55%. The firm’s revenue was up 71.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 EPS. As a group, equities analysts forecast that Thermon Group Holdings Inc will post 1.3 EPS for the current fiscal year.
About Thermon Group
Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.
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