Bank of America Corp DE raised its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 10.8% during the first quarter, Holdings Channel reports. The firm owned 240,368 shares of the technology company’s stock after buying an additional 23,395 shares during the period. Bank of America Corp DE’s holdings in Thermon Group Holdings were worth $5,010,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Thermon Group Holdings during the first quarter valued at $109,000. Victory Capital Management Inc. raised its stake in Thermon Group Holdings by 32.5% in the first quarter. Victory Capital Management Inc. now owns 6,719 shares of the technology company’s stock valued at $140,000 after buying an additional 1,647 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in Thermon Group Holdings during the first quarter valued at $215,000. Wrapmanager Inc. acquired a new stake in Thermon Group Holdings during the first quarter valued at $223,000. Finally, OLD National Bancorp IN raised its stake in Thermon Group Holdings by 7.8% in the first quarter. OLD National Bancorp IN now owns 15,523 shares of the technology company’s stock valued at $323,000 after buying an additional 1,119 shares during the period.
Shares of Thermon Group Holdings, Inc. (NYSE:THR) traded down 0.84% during mid-day trading on Tuesday, hitting $17.72. The stock had a trading volume of 5,404 shares. The firm has a 50 day moving average price of $18.60 and a 200-day moving average price of $19.68. The stock has a market cap of $573.60 million, a P/E ratio of 39.38 and a beta of 1.00. Thermon Group Holdings, Inc. has a 12 month low of $16.50 and a 12 month high of $21.48.
Thermon Group Holdings (NYSE:THR) last announced its quarterly earnings data on Wednesday, May 24th. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by $0.03. The firm had revenue of $67.60 million for the quarter, compared to the consensus estimate of $66.24 million. Thermon Group Holdings had a net margin of 5.54% and a return on equity of 4.60%. Thermon Group Holdings’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. On average, equities research analysts forecast that Thermon Group Holdings, Inc. will post $0.45 EPS for the current year.
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THR has been the topic of several research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $22.00 price objective (up from $21.00) on shares of Thermon Group Holdings in a research note on Sunday, May 28th. BidaskClub raised Thermon Group Holdings from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. ValuEngine raised Thermon Group Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Zacks Investment Research raised Thermon Group Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Wolfe Research initiated coverage on Thermon Group Holdings in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Thermon Group Holdings has an average rating of “Hold” and a consensus target price of $21.00.
About Thermon Group Holdings
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