Federated Hermes Inc. Buys 4,324 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Federated Hermes Inc. lifted its stake in Thermon Group Holdings, Inc. (NYSE:THR) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,363 shares of the technology company’s stock after purchasing an additional 4,324 shares during the quarter. Federated Hermes Inc.’s holdings in Thermon Group were worth $8,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Thermon Group by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,341,344 shares of the technology company’s stock worth $91,787,000 after purchasing an additional 24,272 shares in the last quarter. FMR LLC raised its holdings in Thermon Group by 99.0% in the 3rd quarter. FMR LLC now owns 1,841,520 shares of the technology company’s stock worth $50,587,000 after acquiring an additional 916,248 shares during the last quarter. Wellington Management Group LLP raised its holdings in Thermon Group by 44.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,724,846 shares of the technology company’s stock worth $47,382,000 after acquiring an additional 533,474 shares during the last quarter. Brown Advisory Inc. raised its holdings in Thermon Group by 3.1% in the 3rd quarter. Brown Advisory Inc. now owns 976,501 shares of the technology company’s stock worth $26,824,000 after acquiring an additional 28,946 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in Thermon Group by 11.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 386,607 shares of the technology company’s stock worth $10,620,000 after acquiring an additional 40,096 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

Thermon Group Price Performance

Shares of THR opened at $31.05 on Thursday. The firm has a market cap of $1.05 billion, a PE ratio of 21.56 and a beta of 1.18. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $29.75 and a two-hundred day simple moving average of $29.98. Thermon Group Holdings, Inc. has a 1-year low of $20.56 and a 1-year high of $34.07.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on THR shares. StockNews.com upgraded shares of Thermon Group from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Roth Mkm assumed coverage on shares of Thermon Group in a report on Wednesday, March 6th. They issued a “buy” rating and a $36.00 price objective for the company.

Insider Buying and Selling at Thermon Group

In related news, Director Roger L. Fix bought 1,555 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was acquired at an average cost of $25.70 per share, for a total transaction of $39,963.50. Following the purchase, the director now owns 28,273 shares in the company, valued at $726,616.10. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.90% 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 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.