Allspring Global Investments Holdings LLC Sells 6,050 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Allspring Global Investments Holdings LLC decreased its holdings in Thermon Group Holdings, Inc. (NYSE:THR) by 65.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,214 shares of the technology company’s stock after selling 6,050 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Thermon Group were worth $105,000 as of its most recent SEC filing.

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

Thermon Group Stock Performance

Shares of THR opened at $31.83 on Monday. The stock has a 50 day moving average of $29.98 and a 200 day moving average of $30.04. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 22.10 and a beta of 1.18. Thermon Group Holdings, Inc. has a 12 month low of $20.56 and a 12 month high of $34.07. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.35.

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. The firm had revenue of $136.43 million during the quarter, compared to analyst estimates of $128.22 million. Thermon Group had a return on equity of 14.60% and a net margin of 10.05%. As a group, sell-side analysts forecast that Thermon Group Holdings, Inc. will post 1.8 earnings per share for the current year.

Wall Street Analyst Weigh In

THR has been the subject of several recent analyst reports. StockNews.com lowered shares of Thermon Group from a “buy” rating to a “hold” rating in a research note on Friday. Roth Mkm assumed coverage on shares of Thermon Group in a report on Wednesday, March 6th. They set a “buy” rating and a $36.00 price target on the stock.

Insider Buying and Selling

In related news, Director Roger L. Fix bought 1,555 shares of Thermon Group stock in a transaction dated 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 transaction, the director now directly owns 28,273 shares of the company’s stock, valued at $726,616.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

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.