Hennion & Walsh Asset Management Inc. Increases Stake in Thermon Group Holdings, Inc. (NYSE:THR)

Hennion & Walsh Asset Management Inc. increased its holdings in Thermon Group Holdings, Inc. (NYSE:THR) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,241 shares of the technology company’s stock after acquiring an additional 2,900 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.12% of Thermon Group worth $1,187,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new stake in shares of Thermon Group in the 2nd quarter worth approximately $40,000. Mercer Global Advisors Inc. ADV raised its stake in Thermon Group by 9.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock worth $216,000 after buying an additional 613 shares in the last quarter. 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 buying an additional 5,384 shares during the period. Principal Financial Group Inc. bought a new stake in Thermon Group during the 3rd quarter valued at $481,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Thermon Group by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock valued at $523,000 after acquiring an additional 682 shares during the period. 99.76% of the stock is currently owned by institutional investors.

Thermon Group Trading Up 0.5 %

Shares of NYSE THR opened at $29.31 on Friday. Thermon Group Holdings, Inc. has a 1-year low of $23.76 and a 1-year high of $35.93. The business has a fifty day moving average price of $30.15 and a 200 day moving average price of $29.73. The stock has a market capitalization of $987.42 million, a P/E ratio of 22.90 and a beta of 1.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85.

Thermon Group (NYSE:THR) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%. The firm had revenue of $114.60 million during the quarter, compared to analyst estimates of $116.19 million. During the same period last year, the firm posted $0.49 EPS. Thermon Group’s revenue was down 7.4% on a year-over-year basis. Equities research analysts expect that Thermon Group Holdings, Inc. will post 1.79 EPS for the current fiscal year.

Insider Activity

In related news, SVP David Buntin sold 28,137 shares of Thermon Group stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $32.15, for a total transaction of $904,604.55. Following the completion of the sale, the senior vice president now owns 57,773 shares of the company’s stock, valued at $1,857,401.95. The trade was a 32.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Thermon Group Company 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.