Allspring Global Investments Holdings LLC Buys 63,431 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Allspring Global Investments Holdings LLC lifted its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 806.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,299 shares of the technology company’s stock after buying an additional 63,431 shares during the period. Allspring Global Investments Holdings LLC owned about 0.21% of Thermon Group worth $2,193,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of THR. Vanguard Group Inc. boosted its holdings in Thermon Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,363,315 shares of the technology company’s stock worth $109,543,000 after acquiring an additional 21,971 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Thermon Group by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,775,583 shares of the technology company’s stock worth $57,833,000 after purchasing an additional 4,599 shares during the period. William Blair Investment Management LLC increased its stake in shares of Thermon Group by 22.2% in the first quarter. William Blair Investment Management LLC now owns 901,244 shares of the technology company’s stock worth $29,489,000 after purchasing an additional 163,640 shares in the last quarter. New South Capital Management Inc. raised its position in shares of Thermon Group by 10.5% in the first quarter. New South Capital Management Inc. now owns 734,185 shares of the technology company’s stock valued at $24,023,000 after purchasing an additional 69,666 shares during the period. Finally, Swedbank AB lifted its stake in shares of Thermon Group by 2.6% during the 2nd quarter. Swedbank AB now owns 635,000 shares of the technology company’s stock valued at $19,533,000 after buying an additional 16,000 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

Thermon Group Stock Performance

Thermon Group stock opened at $31.43 on Tuesday. The company has a market capitalization of $1.06 billion, a PE ratio of 20.95 and a beta of 1.06. The firm has a fifty day simple moving average of $30.65 and a two-hundred day simple moving average of $30.93. The company has a quick ratio of 1.73, a current ratio of 2.61 and a debt-to-equity ratio of 0.31. Thermon Group Holdings, Inc. has a twelve month low of $23.76 and a twelve month high of $35.93.

Thermon Group (NYSE:THR) last issued its earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.07. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. The firm had revenue of $115.10 million for the quarter, compared to analysts’ expectations of $115.99 million. During the same quarter last year, the business earned $0.40 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Research analysts expect that Thermon Group Holdings, Inc. will post 1.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on THR shares. StockNews.com lowered shares of Thermon Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Roth Mkm lifted their price target on Thermon Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, May 30th.

About Thermon Group

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.