Meros Investment Management LP Sells 12,326 Shares of Thermon Group Holdings, Inc. $THR

Meros Investment Management LP lessened its holdings in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 3.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 339,675 shares of the technology company’s stock after selling 12,326 shares during the quarter. Thermon Group comprises about 5.0% of Meros Investment Management LP’s holdings, making the stock its 3rd biggest holding. Meros Investment Management LP owned about 1.03% of Thermon Group worth $12,622,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new stake in shares of Thermon Group during the second quarter worth about $31,000. Assetmark Inc. lifted its position in shares of Thermon Group by 68.1% during the third quarter. Assetmark Inc. now owns 1,530 shares of the technology company’s stock worth $41,000 after purchasing an additional 620 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Thermon Group during the third quarter worth about $45,000. Nkcfo LLC acquired a new stake in shares of Thermon Group during the fourth quarter worth about $85,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Thermon Group during the third quarter worth about $83,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Thermon Group Price Performance

Shares of NYSE:THR opened at $61.14 on Tuesday. The firm’s 50 day moving average price is $60.40 and its 200 day moving average price is $49.86. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 45.63 and a beta of 0.83. Thermon Group Holdings, Inc. has a fifty-two week low of $23.86 and a fifty-two week high of $71.87. The company has a quick ratio of 1.76, a current ratio of 2.69 and a debt-to-equity ratio of 0.25.

Thermon Group (NYSE:THR) last released its quarterly earnings data on Tuesday, May 19th. The technology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Thermon Group had a return on equity of 13.42% and a net margin of 8.31%.The company had revenue of $148.33 million for the quarter, compared to analyst estimates of $137.85 million. During the same period in the previous year, the business posted $0.56 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Thermon Group Holdings, Inc. will post 2.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

THR has been the topic of several research reports. Weiss Ratings cut shares of Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. William Blair cut shares of Thermon Group from an “outperform” rating to a “hold” rating in a report on Wednesday, February 25th. CJS Securities cut shares of Thermon Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 25th. Zacks Research cut shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Craig Hallum cut shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Six research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.