Thermon Group Holdings, Inc. (NYSE:THR) Stake Lowered by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lessened its position in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 55.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,601 shares of the technology company's stock after selling 13,434 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Thermon Group were worth $305,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in Thermon Group by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 410,574 shares of the technology company's stock valued at $11,812,000 after purchasing an additional 29,146 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Thermon Group during the 4th quarter worth $47,000. Principal Financial Group Inc. boosted its position in Thermon Group by 7.6% during the fourth quarter. Principal Financial Group Inc. now owns 17,351 shares of the technology company's stock worth $499,000 after acquiring an additional 1,226 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Thermon Group during the fourth quarter worth about $755,000. Finally, Franklin Resources Inc. lifted its position in Thermon Group by 2.1% during the third quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company's stock valued at $595,000 after buying an additional 422 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Thermon Group Stock Down 2.3%

NYSE THR traded down $0.69 during trading hours on Wednesday, reaching $29.02. 195,724 shares of the company traded hands, compared to its average volume of 168,414. The company has a 50 day moving average of $27.38 and a two-hundred day moving average of $28.76. Thermon Group Holdings, Inc. has a 12 month low of $23.05 and a 12 month high of $35.93. The stock has a market capitalization of $977.52 million, a PE ratio of 21.33 and a beta of 1.07. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Thermon Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th.

Thermon Group Company 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.