Thermon Group Holdings, Inc. $THR Holdings Lowered by Swedbank AB

Swedbank AB trimmed its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 8.4% in the 4th quarter, HoldingsChannel reports. The firm owned 694,000 shares of the technology company’s stock after selling 64,000 shares during the quarter. Swedbank AB’s holdings in Thermon Group were worth $25,789,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Peregrine Asset Advisers Inc. purchased a new stake in shares of Thermon Group during the fourth quarter valued at $2,282,000. Strs Ohio purchased a new stake in shares of Thermon Group during the fourth quarter valued at $710,000. Nkcfo LLC purchased a new stake in shares of Thermon Group during the fourth quarter valued at $85,000. Pictet Asset Management Holding SA purchased a new stake in shares of Thermon Group during the fourth quarter valued at $206,000. Finally, UBS Group AG lifted its holdings in shares of Thermon Group by 5.8% during the fourth quarter. UBS Group AG now owns 305,070 shares of the technology company’s stock valued at $11,336,000 after purchasing an additional 16,700 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Thermon Group Stock Up 0.5%

Shares of Thermon Group stock opened at $65.66 on Friday. The stock has a 50-day moving average price of $52.30 and a 200 day moving average price of $43.64. The company has a market cap of $2.16 billion, a P/E ratio of 37.30 and a beta of 0.83. The company has a current ratio of 2.90, a quick ratio of 1.84 and a debt-to-equity ratio of 0.25. Thermon Group Holdings, Inc. has a 1 year low of $23.86 and a 1 year high of $71.24.

Thermon Group (NYSE:THR) last announced its quarterly earnings data on Thursday, February 5th. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. The firm had revenue of $147.31 million during the quarter, compared to the consensus estimate of $138.35 million. Thermon Group had a return on equity of 13.82% and a net margin of 11.26%.The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 EPS. As a group, analysts expect that Thermon Group Holdings, Inc. will post 2.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on THR shares. William Blair downgraded Thermon Group from an “outperform” rating to a “hold” rating in a report on Wednesday, February 25th. Roth Mkm downgraded Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. CJS Securities downgraded Thermon Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 25th. Zacks Research downgraded Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Craig Hallum downgraded Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Thermon Group has an average rating of “Hold” and an average target price of $57.00.

About Thermon Group

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.