Bank of America Corp DE cut its holdings in Thermon Group Holdings Inc (NYSE:THR) by 8.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 389,758 shares of the technology company’s stock after selling 36,890 shares during the quarter. Bank of America Corp DE owned about 1.20% of Thermon Group worth $8,913,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of THR. Nisa Investment Advisors LLC bought a new stake in Thermon Group in the second quarter worth about $235,000. Brown Advisory Inc. bought a new stake in Thermon Group in the first quarter worth about $287,000. Victory Capital Management Inc. raised its position in Thermon Group by 15.9% in the second quarter. Victory Capital Management Inc. now owns 16,837 shares of the technology company’s stock worth $385,000 after acquiring an additional 2,309 shares in the last quarter. JPMorgan Chase & Co. raised its position in Thermon Group by 162.7% in the first quarter. JPMorgan Chase & Co. now owns 18,267 shares of the technology company’s stock worth $409,000 after acquiring an additional 11,314 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in Thermon Group in the second quarter worth about $457,000.
NYSE THR opened at $24.50 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.66 and a current ratio of 3.93. The stock has a market cap of $839.41 million, a price-to-earnings ratio of 24.75 and a beta of 1.09. Thermon Group Holdings Inc has a 1 year low of $20.52 and a 1 year high of $27.95.
Thermon Group (NYSE:THR) last posted its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.10. The firm had revenue of $88.90 million for the quarter, compared to the consensus estimate of $78.65 million. Thermon Group had a return on equity of 9.55% and a net margin of 4.19%. The business’s revenue for the quarter was up 71.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. On average, sell-side analysts expect that Thermon Group Holdings Inc will post 1.3 earnings per share for the current year.
THR has been the topic of several research reports. Zacks Investment Research upgraded shares of Thermon Group from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, August 7th. SunTrust Banks restated a “hold” rating and set a $26.00 price objective on shares of Thermon Group in a report on Tuesday, August 7th. Finally, BMO Capital Markets boosted their price objective on Thermon Group from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average 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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