Rice Hall James & Associates LLC Sells 6,770 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Rice Hall James & Associates LLC lessened its stake in Thermon Group Holdings, Inc. (NYSE:THR) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,411 shares of the technology company’s stock after selling 6,770 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.29% of Thermon Group worth $2,996,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Quest Partners LLC raised its holdings in shares of Thermon Group by 2,375.0% in the 2nd quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,045 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Thermon Group by 16.1% in the 2nd quarter. Victory Capital Management Inc. now owns 36,000 shares of the technology company’s stock worth $1,107,000 after purchasing an additional 5,000 shares during the period. Rhumbline Advisers raised its holdings in shares of Thermon Group by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 54,834 shares of the technology company’s stock worth $1,687,000 after purchasing an additional 1,208 shares during the period. Riverpoint Wealth Management Holdings LLC bought a new stake in shares of Thermon Group in the 2nd quarter worth approximately $1,423,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Thermon Group by 9.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,403 shares of the technology company’s stock worth $289,000 after purchasing an additional 804 shares during the period. Institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

THR has been the topic of a number of research reports. StockNews.com raised shares of Thermon Group from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Roth Mkm boosted their target price on shares of Thermon Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, May 30th.

Thermon Group Trading Up 1.8 %

Shares of THR stock opened at $27.79 on Thursday. The company’s fifty day simple moving average is $30.41 and its two-hundred day simple moving average is $30.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.61 and a quick ratio of 1.73. Thermon Group Holdings, Inc. has a 1 year low of $23.76 and a 1 year high of $35.93. The stock has a market capitalization of $941.28 million, a price-to-earnings ratio of 18.53 and a beta of 1.06.

Thermon Group (NYSE:THR) last issued its earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. The business had revenue of $115.10 million for the quarter, compared to analysts’ expectations of $115.99 million. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, analysts anticipate that Thermon Group Holdings, Inc. will post 1.98 earnings per share for the current year.

Thermon Group Company 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 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.