Congress Asset Management Co. Acquires Shares of 7,895 Thermon Group Holdings, Inc. (NYSE:THR)

Congress Asset Management Co. purchased a new position in Thermon Group Holdings, Inc. (NYSE:THR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,895 shares of the technology company’s stock, valued at approximately $227,000.

A number of other large investors also recently bought and sold shares of THR. FMR LLC increased its stake in shares of Thermon Group by 10.0% during the third quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock valued at $65,239,000 after purchasing an additional 198,642 shares in the last quarter. Wellington Management Group LLP increased its position in 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 buying an additional 178,017 shares in the last quarter. Lightrock Netherlands B.V. purchased a new position in Thermon Group during the fourth quarter valued at $4,995,000. Needham Investment Management LLC boosted its holdings in Thermon Group by 21.5% in the third quarter. Needham Investment Management LLC now owns 650,000 shares of the technology company’s stock worth $19,396,000 after acquiring an additional 115,000 shares in the last quarter. Finally, 272 Capital LP purchased a new stake in shares of Thermon Group in the third quarter worth $3,173,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Thermon Group Price Performance

Shares of NYSE THR opened at $29.76 on Wednesday. The company has a 50 day moving average of $29.08 and a 200 day moving average of $29.29. The company has a quick ratio of 1.85, a current ratio of 2.80 and a debt-to-equity ratio of 0.29. Thermon Group Holdings, Inc. has a twelve month low of $25.76 and a twelve month high of $35.93. The firm has a market cap of $1.00 billion, a P/E ratio of 21.88 and a beta of 1.10.

Thermon Group (NYSE:THR) last posted its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 11.77% and a net margin of 9.48%. As a group, research analysts expect that Thermon Group Holdings, Inc. will post 1.79 EPS for the current fiscal year.

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 on Thursday, December 12th. The shares were 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 directly owns 57,773 shares in the company, valued at approximately $1,857,401.95. The trade was a 32.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Thermon Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 7th.

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.