Bailard Inc. Invests $290,000 in Thermon Group Holdings, Inc. $THR

Bailard Inc. purchased a new position in Thermon Group Holdings, Inc. (NYSE:THR) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 7,800 shares of the technology company’s stock, valued at approximately $290,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of Thermon Group in the 2nd quarter worth $31,000. Assetmark Inc. boosted its position in shares of Thermon Group by 68.1% in the 3rd quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock worth $41,000 after purchasing an additional 620 shares during the last quarter. Danske Bank A S bought a new position in shares of Thermon Group in the 3rd quarter worth $45,000. State of Alaska Department of Revenue bought a new position in shares of Thermon Group in the 3rd quarter worth $48,000. Finally, Federated Hermes Inc. boosted its position in shares of Thermon Group by 18.5% in the 3rd quarter. Federated Hermes Inc. now owns 2,615 shares of the technology company’s stock worth $70,000 after purchasing an additional 409 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on THR. William Blair lowered Thermon Group from an “outperform” rating to a “hold” rating in a research report on Wednesday, February 25th. Roth Mkm lowered Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Zacks Research lowered Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. CJS Securities lowered Thermon Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 25th. Finally, Craig Hallum lowered Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Thermon Group presently has an average rating of “Hold” and a consensus price target of $57.00.

Thermon Group Price Performance

NYSE:THR opened at $65.15 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.84 and a current ratio of 2.90. The stock’s 50-day simple moving average is $54.21 and its 200 day simple moving average is $45.15. The company has a market cap of $2.14 billion, a P/E ratio of 37.02 and a beta of 0.83. Thermon Group Holdings, Inc. has a 52-week low of $23.86 and a 52-week high of $71.24.

About Thermon Group

Thermon Group, Inc (NYSE: THR) is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon’s core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.