Millennium Management LLC raised its holdings in Thermon Group Holdings Inc (NYSE:THR) by 540.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 278,719 shares of the technology company’s stock after acquiring an additional 235,188 shares during the period. Millennium Management LLC owned approximately 0.86% of Thermon Group worth $6,374,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Citadel Advisors LLC raised its holdings in Thermon Group by 33.5% in the 2nd quarter. Citadel Advisors LLC now owns 117,923 shares of the technology company’s stock valued at $2,697,000 after acquiring an additional 29,573 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in Thermon Group by 3.5% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,899,170 shares of the technology company’s stock valued at $43,434,000 after acquiring an additional 64,894 shares during the last quarter. Pwmco LLC acquired a new stake in Thermon Group in the 2nd quarter valued at about $5,302,000. Fenimore Asset Management Inc. acquired a new stake in Thermon Group in the 2nd quarter valued at about $12,371,000. Finally, Van Berkom & Associates Inc. raised its holdings in Thermon Group by 0.7% in the 2nd quarter. Van Berkom & Associates Inc. now owns 2,532,067 shares of the technology company’s stock valued at $57,908,000 after acquiring an additional 16,930 shares during the last quarter.
Thermon Group stock opened at $24.08 on Friday. Thermon Group Holdings Inc has a 1-year low of $20.52 and a 1-year high of $27.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.93 and a quick ratio of 2.66. The company has a market capitalization of $839.41 million, a PE ratio of 24.32 and a beta of 1.09.
Thermon Group (NYSE:THR) last posted its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.10. Thermon Group had a net margin of 4.19% and a return on equity of 9.55%. The business had revenue of $88.90 million during the quarter, compared to analysts’ expectations of $78.65 million. During the same quarter in the prior year, the company posted $0.08 EPS. The business’s revenue for the quarter was up 71.8% on a year-over-year basis. As a group, equities analysts forecast that Thermon Group Holdings Inc will post 1.3 earnings per share for the current fiscal year.
THR has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Thermon Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. BMO Capital Markets increased their price objective on shares of Thermon Group from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 2nd. Finally, SunTrust Banks reissued a “hold” rating and issued a $26.00 price target on shares of Thermon Group in a research note on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $28.50.
Thermon Group Profile
Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.
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