Jacobs Levy Equity Management Inc. Increases Position in Thermon Group Holdings, Inc. (NYSE:THR)

Jacobs Levy Equity Management Inc. lifted its stake in Thermon Group Holdings, Inc. (NYSE:THR) by 8.9% in the 3rd quarter, Holdings Channel reports. The firm owned 18,715 shares of the technology company’s stock after purchasing an additional 1,529 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Thermon Group were worth $558,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in THR. FMR LLC lifted its position in shares of Thermon Group by 10.0% during the 3rd quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock valued at $65,239,000 after acquiring an additional 198,642 shares during the period. Swedbank AB raised its holdings in Thermon Group by 2.6% during the second quarter. Swedbank AB now owns 635,000 shares of the technology company’s stock worth $19,533,000 after purchasing an additional 16,000 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Thermon Group by 1.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 397,534 shares of the technology company’s stock worth $11,862,000 after purchasing an additional 5,920 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Thermon Group by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 381,428 shares of the technology company’s stock valued at $11,382,000 after purchasing an additional 19,083 shares during the last quarter. Finally, Meros Investment Management LP increased its position in shares of Thermon Group by 1.6% in the second quarter. Meros Investment Management LP now owns 209,800 shares of the technology company’s stock valued at $6,453,000 after buying an additional 3,400 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Thermon Group Trading Down 0.8 %

Shares of Thermon Group stock opened at $31.70 on Tuesday. The business has a 50 day moving average price of $29.34 and a 200 day moving average price of $30.06. The company has a market capitalization of $1.07 billion, a P/E ratio of 24.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85. Thermon Group Holdings, Inc. has a 1 year low of $23.76 and a 1 year high of $35.93.

Thermon Group (NYSE:THR) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The business 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 revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 earnings per share. Sell-side analysts anticipate 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.