Renaissance Technologies LLC Sells 9,400 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Renaissance Technologies LLC cut its holdings in Thermon Group Holdings, Inc. (NYSE:THR) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,000 shares of the technology company’s stock after selling 9,400 shares during the period. Renaissance Technologies LLC owned approximately 0.53% of Thermon Group worth $5,475,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Quest Partners LLC grew its stake in Thermon Group by 2,375.0% in the 2nd quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock valued at $33,000 after buying an additional 1,045 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Thermon Group in the second quarter valued at about $60,000. EntryPoint Capital LLC increased its stake in shares of Thermon Group by 421.1% in the first quarter. EntryPoint Capital LLC now owns 6,331 shares of the technology company’s stock worth $207,000 after purchasing an additional 5,116 shares during the period. QRG Capital Management Inc. boosted its stake in Thermon Group by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock valued at $210,000 after purchasing an additional 608 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Thermon Group during the 1st quarter valued at approximately $255,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on THR. StockNews.com upgraded Thermon Group from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Roth Mkm raised their price target on shares of Thermon Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th.

Thermon Group Stock Performance

Shares of NYSE THR opened at $29.20 on Friday. The firm has a market capitalization of $986.96 million, a price-to-earnings ratio of 19.47 and a beta of 1.06. Thermon Group Holdings, Inc. has a one year low of $23.76 and a one year high of $35.93. The business has a fifty day simple moving average of $30.04 and a 200 day simple moving average of $31.07. The company has a current ratio of 2.61, a quick ratio of 1.73 and a debt-to-equity ratio of 0.31.

Thermon Group (NYSE:THR) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. The company had revenue of $115.10 million during the quarter, compared to the consensus estimate of $115.99 million. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. Sell-side analysts expect that Thermon Group Holdings, Inc. will post 1.98 EPS for the current year.

Thermon Group 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 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.