Raymond James & Associates Sells 6,696 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Raymond James & Associates trimmed its position in Thermon Group Holdings, Inc. (NYSE:THR) by 20.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 25,578 shares of the technology company’s stock after selling 6,696 shares during the period. Raymond James & Associates’ holdings in Thermon Group were worth $833,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in THR. Hennion & Walsh Asset Management Inc. purchased a new position in Thermon Group in the third quarter worth $248,000. Premier Fund Managers Ltd purchased a new stake in shares of Thermon Group during the 3rd quarter valued at $254,000. Principal Financial Group Inc. raised its stake in shares of Thermon Group by 46.5% during the 3rd quarter. Principal Financial Group Inc. now owns 12,068 shares of the technology company’s stock worth $332,000 after purchasing an additional 3,829 shares during the period. Dark Forest Capital Management LP bought a new position in Thermon Group during the third quarter valued at about $365,000. Finally, SG Americas Securities LLC bought a new stake in Thermon Group in the third quarter worth about $385,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Insider Buying and Selling

In other news, Director Roger L. Fix purchased 1,555 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $25.70 per share, with a total value of $39,963.50. Following the acquisition, the director now directly owns 28,273 shares in the company, valued at $726,616.10. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com raised Thermon Group from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Roth Mkm began coverage on shares of Thermon Group in a research note on Wednesday, March 6th. They set a “buy” rating and a $36.00 price target on the stock.

Thermon Group Stock Performance

NYSE:THR opened at $30.02 on Tuesday. Thermon Group Holdings, Inc. has a 52-week low of $20.56 and a 52-week high of $34.07. The business’s fifty day moving average is $29.66 and its 200 day moving average is $29.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.53 and a current ratio of 2.22. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 20.85 and a beta of 1.18.

Thermon Group (NYSE:THR) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.09. Thermon Group had a return on equity of 14.60% and a net margin of 10.05%. The firm had revenue of $136.43 million for the quarter, compared to analysts’ expectations of $128.22 million. Research analysts predict that Thermon Group Holdings, Inc. will post 1.8 EPS for the current year.

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 provides 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.