Rice Hall James & Associates LLC Cuts Holdings in Thermon Group Holdings, Inc. $THR

Rice Hall James & Associates LLC decreased its position in Thermon Group Holdings, Inc. (NYSE:THR) by 17.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,048 shares of the technology company’s stock after selling 11,803 shares during the period. Rice Hall James & Associates LLC owned about 0.17% of Thermon Group worth $2,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in Thermon Group in the second quarter valued at $31,000. Assetmark Inc. increased its holdings in Thermon Group by 68.1% in the third quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock valued at $41,000 after buying an additional 620 shares in the last quarter. Danske Bank A S purchased a new position in Thermon Group in the third quarter valued at $45,000. NewEdge Advisors LLC acquired a new position in Thermon Group during the third quarter worth about $83,000. Finally, Nkcfo LLC acquired a new position in Thermon Group in the 4th quarter valued at about $85,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Zacks Research lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. CJS Securities lowered shares of Thermon Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 25th. Roth Mkm lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, Craig Hallum lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Six equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.00.

Thermon Group Price Performance

Shares of THR opened at $61.14 on Wednesday. Thermon Group Holdings, Inc. has a fifty-two week low of $23.86 and a fifty-two week high of $71.87. The firm’s 50 day moving average price is $60.58 and its 200 day moving average price is $50.04. The company has a market cap of $2.01 billion, a P/E ratio of 45.63 and a beta of 0.83. The company has a quick ratio of 1.76, a current ratio of 2.69 and a debt-to-equity ratio of 0.25.

Thermon Group (NYSE:THR) last announced its earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Thermon Group had a return on equity of 13.42% and a net margin of 8.31%.The business had revenue of $148.33 million for the quarter, compared to analysts’ expectations of $137.85 million. During the same period in the previous year, the company earned $0.56 earnings per share. Thermon Group’s quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast that Thermon Group Holdings, Inc. will post 2.27 earnings per share for the current fiscal year.

Thermon Group Company Profile

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.