Thermon Group (NYSE:THR) Shares Gap Up on Strong Earnings

Thermon Group Holdings, Inc. (NYSE:THR) shares gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $26.95, but opened at $28.87. Thermon Group shares last traded at $26.55, with a volume of 26,056 shares trading hands.

The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%.

Insider Buying and Selling at Thermon Group

In related news, SVP David Buntin sold 28,137 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $32.15, for a total value of $904,604.55. Following the completion of the sale, the senior vice president now owns 57,773 shares in the company, valued at $1,857,401.95. This represents a 32.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.40% of the company’s stock.

Institutional Trading of Thermon Group

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Thermon Group by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock valued at $523,000 after buying an additional 682 shares during the period. Wedge Capital Management L L P NC grew its position in shares of Thermon Group by 6.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 46,643 shares of the technology company’s stock valued at $1,392,000 after acquiring an additional 3,009 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Thermon Group by 4.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 38,341 shares of the technology company’s stock valued at $1,144,000 after purchasing an additional 1,754 shares during the period. Assenagon Asset Management S.A. lifted its stake in Thermon Group by 1.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 202,389 shares of the technology company’s stock valued at $6,039,000 after purchasing an additional 2,035 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Thermon Group by 131.6% during the third quarter. Harbor Capital Advisors Inc. now owns 23,232 shares of the technology company’s stock worth $693,000 after purchasing an additional 13,199 shares during the period. 99.76% of the stock is owned by institutional investors.

Thermon Group Stock Down 1.2 %

The company has a quick ratio of 1.85, a current ratio of 2.80 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average price of $29.58 and a two-hundred day moving average price of $29.51. The company has a market cap of $897.33 million, a price-to-earnings ratio of 20.66 and a beta of 1.10.

About Thermon Group

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.