SG Americas Securities LLC Lowers Stake in Thermon Group Holdings, Inc. $THR

SG Americas Securities LLC reduced its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 73.8% in the first quarter, HoldingsChannel.com reports. The fund owned 5,932 shares of the technology company’s stock after selling 16,680 shares during the quarter. SG Americas Securities LLC’s holdings in Thermon Group were worth $299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THR. Canada Pension Plan Investment Board bought a new position in Thermon Group in the second quarter valued at $31,000. Danske Bank A S bought a new stake in Thermon Group during the third quarter worth about $45,000. NewEdge Advisors LLC purchased a new position in shares of Thermon Group in the 3rd quarter worth about $83,000. Nkcfo LLC bought a new position in shares of Thermon Group during the 4th quarter valued at about $85,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Thermon Group by 62.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,236 shares of the technology company’s stock valued at $91,000 after buying an additional 1,245 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on THR shares. Wall Street Zen raised Thermon Group to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings downgraded shares of Thermon Group from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research lowered shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.00.

Thermon Group Stock Performance

Shares of THR stock opened at $61.14 on Friday. The company has a market capitalization of $2.01 billion, a P/E 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 debt-to-equity ratio of 0.25, a quick ratio of 1.76 and a current ratio of 2.69. The stock has a 50 day moving average price of $63.08 and a two-hundred day moving average price of $52.87.

Thermon Group (NYSE:THR) last issued its earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Thermon Group had a return on equity of 13.42% and a net margin of 8.31%.The firm had revenue of $148.33 million during the quarter, compared to the consensus estimate of $137.85 million. During the same quarter in the prior year, the business posted $0.56 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts expect that Thermon Group Holdings, Inc. will post 2.27 earnings per share for the current year.

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.