Meros Investment Management LP Increases Stake in Thermon Group Holdings, Inc. (NYSE:THR)

Meros Investment Management LP boosted its holdings in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,387 shares of the technology company’s stock after acquiring an additional 4,587 shares during the period. Thermon Group comprises about 2.9% of Meros Investment Management LP’s portfolio, making the stock its 12th largest position. Meros Investment Management LP owned approximately 0.64% of Thermon Group worth $6,397,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in THR. Quest Partners LLC increased its holdings in Thermon Group by 2,375.0% during the second quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock valued at $33,000 after buying an additional 1,045 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Thermon Group during the 2nd quarter worth $40,000. Meeder Asset Management Inc. bought a new stake in Thermon Group during the second quarter valued at about $60,000. QRG Capital Management Inc. grew its stake in Thermon Group by 9.8% in the second quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock valued at $210,000 after purchasing an additional 608 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of Thermon Group by 9.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock valued at $216,000 after purchasing an additional 613 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Thermon Group Stock Up 0.9 %

Thermon Group stock opened at $31.93 on Wednesday. Thermon Group Holdings, Inc. has a 12 month low of $23.76 and a 12 month high of $35.93. The stock has a market capitalization of $1.08 billion, a PE ratio of 24.95 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85. The business has a 50 day simple moving average of $29.39 and a 200-day simple moving average of $30.03.

Thermon Group (NYSE:THR) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%. The company had revenue of $114.60 million during the quarter, compared to analysts’ expectations of $116.19 million. During the same period in the prior year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, analysts anticipate that Thermon Group Holdings, Inc. will post 1.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Thermon Group from a “hold” rating to a “buy” rating in a report on Saturday, September 14th.

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 offers 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.