106,318 Shares in Thermon Group Holdings, Inc. (NYSE:THR) Purchased by 272 Capital LP

272 Capital LP purchased a new stake in Thermon Group Holdings, Inc. (NYSE:THR) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 106,318 shares of the technology company’s stock, valued at approximately $3,173,000. Thermon Group comprises 3.5% of 272 Capital LP’s portfolio, making the stock its 7th largest holding.

Several other hedge funds have also recently bought and sold shares of THR. Quest Partners LLC grew its stake in shares of Thermon Group by 2,375.0% in the second quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,045 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Thermon Group in the 2nd quarter valued at about $40,000. Meeder Asset Management Inc. bought a new position in Thermon Group in the second quarter valued at approximately $60,000. QRG Capital Management Inc. lifted its stake in Thermon Group by 9.8% during the second quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock worth $210,000 after purchasing an additional 608 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Thermon Group by 9.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock worth $216,000 after buying an additional 613 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Thermon Group from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th.

Thermon Group Trading Down 0.4 %

Shares of THR stock opened at $31.56 on Friday. Thermon Group Holdings, Inc. has a twelve month low of $23.76 and a twelve month high of $35.93. The stock’s fifty day simple moving average is $29.04 and its 200 day simple moving average is $30.24. The company has a quick ratio of 1.85, a current ratio of 2.80 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1.06 billion, a P/E ratio of 24.66 and a beta of 1.07.

Thermon Group (NYSE:THR) last announced its earnings results on Thursday, November 7th. The technology company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.35 by $0.03. The firm had revenue of $114.60 million for the quarter, compared to the consensus estimate of $116.19 million. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. As a group, sell-side analysts predict that Thermon Group Holdings, Inc. will post 1.79 EPS for the current fiscal year.

Thermon Group Profile

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It offers heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.