Y Intercept Hong Kong Ltd Makes New $1.15 Million Investment in Thermon Group Holdings, Inc. $THR

Y Intercept Hong Kong Ltd acquired a new stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 22,830 shares of the technology company’s stock, valued at approximately $1,151,000. Y Intercept Hong Kong Ltd owned about 0.07% of Thermon Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in THR. Sterling Capital Management LLC increased its stake in Thermon Group by 559.5% during the first quarter. Sterling Capital Management LLC now owns 11,126 shares of the technology company’s stock valued at $561,000 after acquiring an additional 9,439 shares during the period. Kestra Private Wealth Services LLC bought a new stake in shares of Thermon Group in the 1st quarter worth approximately $336,000. Assenagon Asset Management S.A. grew its holdings in shares of Thermon Group by 35.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 345,731 shares of the technology company’s stock worth $17,425,000 after purchasing an additional 90,037 shares in the last quarter. Aristides Capital LLC acquired a new stake in shares of Thermon Group during the 4th quarter worth approximately $204,000. Finally, Virtu Financial LLC bought a new stake in shares of Thermon Group during the fourth quarter valued at approximately $549,000. Institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on THR. Wall Street Zen upgraded Thermon Group to a “hold” rating in a research note on Saturday, May 30th. Zacks Research lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Weiss Ratings downgraded shares of Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $57.00.

Thermon Group Price Performance

Shares of Thermon Group stock remained flat at $61.14 during midday trading on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.69 and a quick ratio of 1.76. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 45.63 and a beta of 0.83. Thermon Group Holdings, Inc. has a 12 month low of $23.86 and a 12 month high of $71.87. The company’s 50 day moving average is $63.08 and its 200 day moving average is $52.87.

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