Arrowstreet Capital Limited Partnership Purchases 171,346 Shares of Thermon Group Holdings, Inc. $THR

Key Points

• Arrowstreet Capital increased its Thermon Group stake by 33.7%, purchasing 171,346 shares in the first quarter and bringing its holdings to 679,685 shares, valued at approximately $34.3 million.
• Institutional ownership remains very high at 99.76%, with several other investment firms establishing new positions in Thermon Group during recent quarters.
• Thermon reported quarterly revenue of $148.33 million, up 10.6% year over year and above estimates, though earnings of $0.55 per share slightly missed expectations. Analysts maintain a consensus “Hold” rating with a $57 price target.

Arrowstreet Capital Limited Partnership boosted its position in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 33.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 679,685 shares of the technology company's stock after buying an additional 171,346 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.07% of Thermon Group worth $34,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Y Intercept Hong Kong Ltd bought a new stake in Thermon Group in the first quarter worth $1,151,000. Allspring Global Investments Holdings LLC purchased a new stake in Thermon Group during the fourth quarter valued at about $3,758,000. Peregrine Asset Advisers Inc. bought a new position in shares of Thermon Group during the fourth quarter valued at about $2,282,000. Denali Advisors LLC bought a new position in shares of Thermon Group during the fourth quarter valued at about $638,000. Finally, Strs Ohio purchased a new stake in Thermon Group during the 4th quarter valued at about $710,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Thermon Group Stock Performance

Shares of NYSE THR opened at $61.14 on Wednesday. Thermon Group Holdings, Inc. has a 12-month low of $23.86 and a 12-month high of $71.87. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 45.63 and a beta of 0.83. The company has a current ratio of 2.69, a quick ratio of 1.76 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $61.98 and a 200 day moving average of $54.95.

Thermon Group (NYSE:THR - Get Free Report) last released its quarterly earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share 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 business had revenue of $148.33 million during the quarter, compared to the consensus estimate of $137.85 million. During the same quarter in the previous year, the business posted $0.56 earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Thermon Group Holdings, Inc. will post 2.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on THR. Wall Street Zen upgraded Thermon Group to a "hold" rating in a research report on Saturday, May 30th. Weiss Ratings cut Thermon Group from a "buy (b)" rating to a "hold (c)" rating in a research note on Tuesday, May 26th. Six equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $57.00.

About Thermon Group

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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