21,895 Shares in Thermon Group Holdings, Inc. $THR Purchased by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA disclosed a new position in Thermon Group Holdings, buying 21,895 shares valued at about $1.1 million in the first quarter.
• Institutional ownership in Thermon Group remains extremely high, with 99.76% of shares held by institutional investors and hedge funds. Several other firms also recently initiated small positions in the stock.
• Analyst sentiment is mixed but cautious: the stock now carries an average “Hold” rating and a consensus price target of $57.00, while the shares recently traded at $61.14.

ABC Arbitrage SA bought a new stake in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 21,895 shares of the technology company's stock, valued at approximately $1,104,000. ABC Arbitrage SA owned 0.07% of Thermon Group as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in Thermon Group in the second quarter valued at approximately $31,000. Danske Bank A S bought a new stake in Thermon Group during the third quarter worth $45,000. Nkcfo LLC bought a new stake in Thermon Group during the fourth quarter worth $85,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Thermon Group in the 4th quarter valued at $98,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Thermon Group in the 3rd quarter valued at $83,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings downgraded Thermon Group from a "buy (b)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded Thermon Group to a "hold" rating in a research report on Saturday, May 30th. Finally, Zacks Research downgraded Thermon Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Six investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $57.00.

Thermon Group Stock Performance

NYSE THR opened at $61.14 on Tuesday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 45.63 and a beta of 0.83. Thermon Group Holdings, Inc. has a twelve month low of $23.86 and a twelve month high of $71.87. The stock has a fifty day simple moving average of $63.09 and a 200 day simple moving average of $53.14. The company has a quick ratio of 1.76, a current ratio of 2.69 and a debt-to-equity ratio of 0.25.

Thermon Group (NYSE:THR - Get Free Report) last announced its earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Thermon Group had a return on equity of 13.42% and a net margin of 8.31%.The company had revenue of $148.33 million for the quarter, compared to the consensus estimate of $137.85 million. During the same period in the prior year, the business earned $0.56 earnings per share. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts expect that Thermon Group Holdings, Inc. will post 2.27 EPS for the current year.

Thermon Group Profile

Thermon Group, Inc NYSE: THR is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon's core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.

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