Thermon Group Holdings, Inc. (NYSE:THR) Shares Sold by Harvey Partners LLC

Harvey Partners LLC decreased its position in Thermon Group Holdings, Inc. (NYSE:THR) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 841,055 shares of the technology company’s stock after selling 53,945 shares during the period. Thermon Group comprises 2.9% of Harvey Partners LLC’s portfolio, making the stock its 15th largest holding. Harvey Partners LLC owned 2.50% of Thermon Group worth $25,097,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC raised its stake in shares of Thermon Group by 2,375.0% in the 2nd quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,045 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Thermon Group in the 2nd quarter valued at approximately $40,000. Meeder Asset Management Inc. purchased a new stake in shares of Thermon Group in the second quarter valued at $60,000. QRG Capital Management Inc. grew its stake in Thermon Group by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock worth $210,000 after buying an additional 608 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in Thermon Group by 9.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock valued at $216,000 after acquiring an additional 613 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Thermon Group Stock Up 2.0 %

Shares of NYSE:THR opened at $32.19 on Tuesday. The business’s 50 day moving average is $29.09 and its 200 day moving average is $30.17. The company has a quick ratio of 1.85, a current ratio of 2.80 and a debt-to-equity ratio of 0.29. 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 cap of $1.08 billion, a price-to-earnings ratio of 25.14 and a beta of 1.10.

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

Thermon Group 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.