Thermon Group (NYSE:THR) Shares Gap Up After Earnings Beat

Thermon Group Holdings, Inc. (NYSE:THR)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $26.95, but opened at $28.87. Thermon Group shares last traded at $26.55, with a volume of 26,056 shares changing hands.

The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Thermon Group from a “buy” rating to a “strong-buy” rating in a research note on Friday.

Insider Buying and Selling at Thermon Group

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

Institutional Investors Weigh In On Thermon Group

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. bought a new position in Thermon Group during the third quarter valued at approximately $481,000. Barclays PLC increased its stake in shares of Thermon Group by 312.1% during the 3rd quarter. Barclays PLC now owns 54,149 shares of the technology company’s stock worth $1,616,000 after purchasing an additional 41,009 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Thermon Group by 15.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,324,609 shares of the technology company’s stock valued at $39,526,000 after purchasing an additional 178,017 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Thermon Group by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 274,227 shares of the technology company’s stock valued at $8,183,000 after purchasing an additional 27,235 shares during the last quarter. Finally, FMR LLC boosted its holdings in Thermon Group by 10.0% in the third quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock worth $65,239,000 after purchasing an additional 198,642 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Thermon Group Stock Up 3.9 %

The company has a quick ratio of 1.85, a current ratio of 2.80 and a debt-to-equity ratio of 0.29. The company has a market cap of $928.46 million, a price-to-earnings ratio of 21.53 and a beta of 1.10. The business has a 50-day simple moving average of $29.48 and a two-hundred day simple moving average of $29.49.

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.