Assenagon Asset Management S.A. Increases Stake in Thermon Group Holdings, Inc. $THR

Assenagon Asset Management S.A. raised its holdings in Thermon Group Holdings, Inc. (NYSE:THR) by 35.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 345,731 shares of the technology company’s stock after acquiring an additional 90,037 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Thermon Group were worth $17,425,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GW&K Investment Management LLC raised its stake in shares of Thermon Group by 13.8% in the fourth quarter. GW&K Investment Management LLC now owns 1,627,257 shares of the technology company’s stock valued at $60,469,000 after acquiring an additional 197,715 shares in the last quarter. Medina Value Partners LLC raised its position in Thermon Group by 5.7% in the 4th quarter. Medina Value Partners LLC now owns 1,043,526 shares of the technology company’s stock valued at $38,777,000 after purchasing an additional 56,361 shares in the last quarter. Harvey Partners LLC boosted its stake in shares of Thermon Group by 20.6% in the 3rd quarter. Harvey Partners LLC now owns 771,500 shares of the technology company’s stock valued at $20,614,000 after buying an additional 131,769 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Thermon Group by 5.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 492,782 shares of the technology company’s stock valued at $13,167,000 after buying an additional 24,998 shares during the period. Finally, Kennedy Capital Management LLC grew its position in shares of Thermon Group by 38.2% during the third quarter. Kennedy Capital Management LLC now owns 440,165 shares of the technology company’s stock worth $11,761,000 after buying an additional 121,634 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Zacks Research lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Wall Street Zen upgraded shares of Thermon Group to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings cut shares of Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Finally, Craig Hallum downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Six investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $57.00.

Thermon Group Price Performance

Shares of NYSE THR opened at $61.14 on Friday. The stock has a market cap of $2.01 billion, a PE ratio of 45.63 and a beta of 0.83. 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 Holdings, Inc. has a 52-week low of $23.86 and a 52-week high of $71.87. The business has a 50-day moving average price of $61.84 and a 200 day moving average price of $51.33.

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

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.