Thermon Group Holdings, Inc. (NYSE:THR) Position Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,586 shares of the technology company’s stock after purchasing an additional 1,238 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Thermon Group were worth $508,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Thermon Group during the third quarter valued at about $385,000. Brown Advisory Inc. lifted 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 valued at $26,824,000 after acquiring an additional 28,946 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Thermon Group during the 3rd quarter valued at about $248,000. Teacher Retirement System of Texas grew its stake in shares of Thermon Group by 21.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 51,212 shares of the technology company’s stock worth $1,407,000 after purchasing an additional 9,187 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Thermon Group by 46.5% in 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 in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

THR has been the subject of a number of research reports. Roth Mkm started coverage on shares of Thermon Group in a report on Wednesday, March 6th. They set a “buy” rating and a $36.00 target price for the company. StockNews.com upgraded Thermon Group from a “hold” rating to a “buy” rating in a report on Friday, April 12th.

Thermon Group Stock Up 1.8 %

THR stock opened at $31.59 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.22 and a quick ratio of 1.53. The firm has a market capitalization of $1.07 billion, a P/E ratio of 21.94 and a beta of 1.18. Thermon Group Holdings, Inc. has a 52-week low of $20.56 and a 52-week high of $34.07. The company’s 50 day simple moving average is $29.83 and its 200-day simple moving average is $29.99.

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

Insiders Place Their Bets

In other Thermon Group news, Director Roger L. Fix bought 1,555 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were bought at an average price of $25.70 per share, for a total transaction of $39,963.50. Following the acquisition, the director now directly owns 28,273 shares of the company’s stock, valued at $726,616.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.