Thermon Group (NYSE:THR – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
Separately, Roth Mkm began coverage on shares of Thermon Group in a research report on Wednesday, March 6th. They issued a “buy” rating and a $36.00 target price for the company.
Read Our Latest Research Report on THR
Thermon Group Stock Up 0.8 %
Thermon Group (NYSE:THR – Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported $0.59 EPS 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%. Equities research analysts predict that Thermon Group will post 1.8 EPS for the current year.
Insiders Place Their Bets
In other news, Director Roger L. Fix bought 1,555 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was bought at an average cost of $25.70 per share, for a total transaction of $39,963.50. Following the transaction, the director now owns 28,273 shares of the company’s stock, valued at $726,616.10. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.
Hedge Funds Weigh In On Thermon Group
Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Thermon Group in the 3rd quarter valued at $385,000. Brown Advisory Inc. grew its position in Thermon Group by 3.1% during the third quarter. Brown Advisory Inc. now owns 976,501 shares of the technology company’s stock valued at $26,824,000 after buying an additional 28,946 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in Thermon Group during the third quarter valued at about $248,000. Teacher Retirement System of Texas raised its position in shares of Thermon Group by 21.9% in the third quarter. Teacher Retirement System of Texas now owns 51,212 shares of the technology company’s stock valued at $1,407,000 after purchasing an additional 9,187 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Thermon Group by 46.5% during the 3rd quarter. Principal Financial Group Inc. now owns 12,068 shares of the technology company’s stock valued at $332,000 after purchasing an additional 3,829 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.
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.
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