Hennion & Walsh Asset Management Inc. Has $1.14 Million Stake in Thermon Group Holdings, Inc. (NYSE:THR)

Hennion & Walsh Asset Management Inc. raised its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,341 shares of the technology company’s stock after buying an additional 1,754 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.11% of Thermon Group worth $1,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wedge Capital Management L L P NC grew its holdings in Thermon Group by 6.9% during the third quarter. Wedge Capital Management L L P NC now owns 46,643 shares of the technology company’s stock valued at $1,392,000 after purchasing an additional 3,009 shares during the period. Algert Global LLC grew its holdings in shares of Thermon Group by 156.4% in the 2nd quarter. Algert Global LLC now owns 30,483 shares of the technology company’s stock valued at $938,000 after buying an additional 18,593 shares during the period. Meros Investment Management LP increased its position in shares of Thermon Group by 1.6% in the 2nd quarter. Meros Investment Management LP now owns 209,800 shares of the technology company’s stock valued at $6,453,000 after buying an additional 3,400 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Thermon Group by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock worth $523,000 after buying an additional 682 shares during the period. Finally, Dark Forest Capital Management LP lifted its holdings in Thermon Group by 71.3% during the second quarter. Dark Forest Capital Management LP now owns 12,936 shares of the technology company’s stock worth $398,000 after acquiring an additional 5,384 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Thermon Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th.

Thermon Group Stock Down 0.3 %

Thermon Group stock opened at $26.90 on Friday. The company has a 50 day moving average of $29.08 and a 200-day moving average of $30.66. The company has a quick ratio of 1.73, a current ratio of 2.61 and a debt-to-equity ratio of 0.31. Thermon Group Holdings, Inc. has a twelve month low of $23.76 and a twelve month high of $35.93. The stock has a market capitalization of $909.22 million, a PE ratio of 18.81 and a beta of 1.05.

Thermon Group (NYSE:THR) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. The firm had revenue of $115.10 million during the quarter, compared to analyst estimates of $115.99 million. During the same period in the prior year, the business earned $0.40 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that Thermon Group Holdings, Inc. will post 1.98 EPS for the current fiscal 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.