Wedge Capital Management L L P NC Grows Stake in Thermon Group Holdings, Inc. (NYSE:THR)

Wedge Capital Management L L P NC increased its stake in Thermon Group Holdings, Inc. (NYSE:THR) by 18.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,353 shares of the technology company’s stock after acquiring an additional 7,629 shares during the period. Wedge Capital Management L L P NC owned approximately 0.15% of Thermon Group worth $1,374,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its position in Thermon Group by 314.1% in the fourth quarter. Quarry LP now owns 853 shares of the technology company’s stock worth $25,000 after acquiring an additional 647 shares in the last quarter. Assetmark Inc. purchased a new position in Thermon Group in the fourth quarter worth about $26,000. GAMMA Investing LLC grew its position in Thermon Group by 3,912.0% in the first quarter. GAMMA Investing LLC now owns 1,003 shares of the technology company’s stock worth $28,000 after acquiring an additional 978 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Thermon Group in the fourth quarter worth about $47,000. Finally, AlphaQuest LLC boosted its position in shares of Thermon Group by 57,825.0% during the fourth quarter. AlphaQuest LLC now owns 2,317 shares of the technology company’s stock valued at $67,000 after buying an additional 2,313 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Thermon Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 24th.

Thermon Group Stock Down 0.2%

Shares of NYSE:THR opened at $27.79 on Wednesday. Thermon Group Holdings, Inc. has a 1 year low of $23.05 and a 1 year high of $34.36. The business has a 50 day simple moving average of $26.77 and a two-hundred day simple moving average of $28.49. The firm has a market capitalization of $919.58 million, a PE ratio of 20.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71.

Thermon Group (NYSE:THR) last announced its earnings results on Thursday, May 22nd. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. The business had revenue of $134.08 million during the quarter, compared to analyst estimates of $133.65 million. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, equities analysts predict that Thermon Group Holdings, Inc. will post 1.88 EPS for the current year.

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 offers 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.