Diamond Hill Capital Management Inc. Has $1.15 Million Stake in Thermon Group Holdings, Inc. (NYSE:THR)

Diamond Hill Capital Management Inc. decreased its position in Thermon Group Holdings, Inc. (NYSE:THR) by 19.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,626 shares of the technology company’s stock after selling 9,458 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Thermon Group were worth $1,153,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in THR. Allspring Global Investments Holdings LLC grew its position in shares of Thermon Group by 144.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,868 shares of the technology company’s stock valued at $257,000 after purchasing an additional 4,654 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Thermon Group by 55.9% in the first quarter. BNP Paribas Financial Markets now owns 19,738 shares of the technology company’s stock valued at $646,000 after buying an additional 7,076 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Thermon Group in the first quarter valued at approximately $255,000. Russell Investments Group Ltd. boosted its stake in shares of Thermon Group by 9.5% in the first quarter. Russell Investments Group Ltd. now owns 178,519 shares of the technology company’s stock valued at $5,841,000 after buying an additional 15,438 shares during the period. Finally, William Blair Investment Management LLC boosted 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 valued at $29,489,000 after buying an additional 163,640 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

Thermon Group Trading Up 3.5 %

Shares of THR stock opened at $29.44 on Tuesday. The stock has a 50 day simple moving average of $28.45 and a 200 day simple moving average of $30.42. The company has a current ratio of 2.61, a quick ratio of 1.73 and a debt-to-equity ratio of 0.31. Thermon Group Holdings, Inc. has a 1 year low of $23.76 and a 1 year high of $35.93. The stock has a market cap of $995.13 million, a P/E ratio of 23.00 and a beta of 1.07.

Thermon Group (NYSE:THR) last released its earnings results on Thursday, November 7th. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. Thermon Group had a return on equity of 12.19% and a net margin of 8.89%. The firm 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 company earned $0.49 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. On average, research analysts predict that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Thermon Group from a “hold” rating to a “buy” rating in a research note 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.