Allspring Global Investments Holdings LLC Buys 24,693 Shares of Thermon Group Holdings, Inc. $THR

Allspring Global Investments Holdings LLC lifted its stake in Thermon Group Holdings, Inc. (NYSE:THR) by 24.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,825 shares of the technology company’s stock after purchasing an additional 24,693 shares during the period. Allspring Global Investments Holdings LLC owned 0.38% of Thermon Group worth $6,342,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC boosted its holdings in Thermon Group by 13.8% in the fourth quarter. GW&K Investment Management LLC now owns 1,627,257 shares of the technology company’s stock valued at $60,469,000 after acquiring an additional 197,715 shares during the last quarter. Medina Value Partners LLC raised its holdings in Thermon Group by 5.7% during the 4th quarter. Medina Value Partners LLC now owns 1,043,526 shares of the technology company’s stock worth $38,777,000 after purchasing an additional 56,361 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Thermon Group by 5.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 492,782 shares of the technology company’s stock worth $13,167,000 after purchasing an additional 24,998 shares during the last quarter. Kennedy Capital Management LLC lifted its position in Thermon Group by 38.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 440,165 shares of the technology company’s stock valued at $11,761,000 after purchasing an additional 121,634 shares during the period. Finally, Clifford Capital Partners LLC lifted its position in Thermon Group by 2,551.8% during the 4th quarter. Clifford Capital Partners LLC now owns 430,230 shares of the technology company’s stock valued at $15,987,000 after purchasing an additional 414,006 shares during the period. Institutional investors own 99.76% of the company’s stock.

Thermon Group Stock Performance

THR opened at $61.14 on Friday. The firm’s fifty day moving average is $62.16 and its two-hundred day moving average is $54.47. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.76 and a current ratio of 2.69. The firm has a market cap of $2.01 billion, a PE ratio of 45.63 and a beta of 0.83. Thermon Group Holdings, Inc. has a twelve month low of $23.86 and a twelve month high of $71.87.

Thermon Group (NYSE:THR) last posted its earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Thermon Group had a return on equity of 13.42% and a net margin of 8.31%.The business had revenue of $148.33 million for the quarter, compared to the consensus estimate of $137.85 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Thermon Group Holdings, Inc. will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Zacks Research lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Wall Street Zen upgraded shares of Thermon Group to a “hold” rating in a research report on Saturday, May 30th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat, Thermon Group has an average rating of “Hold” and a consensus price target of $57.00.

Thermon Group Profile

Thermon Group, Inc (NYSE: THR) is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon’s core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.