Envestnet Asset Management Inc. Takes $481,000 Position in Thermon Group Holdings Inc (NYSE:THR)

Envestnet Asset Management Inc. purchased a new stake in Thermon Group Holdings Inc (NYSE:THR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,746 shares of the technology company’s stock, valued at approximately $481,000.

Other hedge funds have also recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new position in shares of Thermon Group in the 1st quarter valued at $29,000. Manchester Capital Management LLC acquired a new position in shares of Thermon Group in the 1st quarter valued at $36,000. Marshall Wace North America L.P. acquired a new position in shares of Thermon Group in the 1st quarter valued at $119,000. SG Americas Securities LLC acquired a new position in shares of Thermon Group in the 1st quarter valued at $169,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Thermon Group by 229.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,524 shares of the technology company’s stock valued at $184,000 after buying an additional 5,243 shares during the period.

Several equities analysts have recently issued reports on THR shares. ValuEngine raised shares of Thermon Group from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research lowered shares of Thermon Group from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $27.33.

Shares of NYSE THR opened at $24.02 on Thursday. The firm has a market cap of $740.98 million, a PE ratio of 20.18 and a beta of 1.46. The company has a current ratio of 3.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.59. Thermon Group Holdings Inc has a 1-year low of $18.37 and a 1-year high of $26.81. The company has a fifty day moving average price of $22.85 and a 200 day moving average price of $24.47.

Thermon Group (NYSE:THR) last announced its earnings results on Thursday, August 8th. The technology company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.09). The company had revenue of $91.70 million during the quarter, compared to analyst estimates of $89.35 million. Thermon Group had a return on equity of 10.42% and a net margin of 5.10%. Thermon Group’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. Equities research analysts forecast that Thermon Group Holdings Inc will post 1.28 EPS for the current year.

In related news, SVP James Pribble bought 1,400 shares of Thermon Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $21.35 per share, with a total value of $29,890.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Der Salm Johannes Rene Van sold 2,906 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $25.08, for a total transaction of $72,882.48. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 9,006 shares of company stock valued at $195,420. Company insiders own 1.40% of the company’s stock.

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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Institutional Ownership by Quarter for Thermon Group (NYSE:THR)

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