Thermon Group Holdings, Inc. (NYSE:THR) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE lifted its stake in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 127.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,363 shares of the technology company's stock after purchasing an additional 41,178 shares during the period. Bank of America Corp DE owned approximately 0.22% of Thermon Group worth $2,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in THR. Quarry LP lifted its stake in shares of Thermon Group by 314.1% in the fourth quarter. Quarry LP now owns 853 shares of the technology company's stock valued at $25,000 after purchasing an additional 647 shares during the period. Assetmark Inc. purchased a new position in Thermon Group during the 4th quarter valued at about $26,000. Venturi Wealth Management LLC purchased a new position in Thermon Group during the 4th quarter valued at about $47,000. AlphaQuest LLC increased its holdings in Thermon Group by 57,825.0% during the 4th quarter. AlphaQuest LLC now owns 2,317 shares of the technology company's stock valued at $67,000 after acquiring an additional 2,313 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Thermon Group by 4,731.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,865 shares of the technology company's stock valued at $111,000 after acquiring an additional 3,785 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Thermon Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.

Thermon Group Price Performance

NYSE:THR traded up $0.47 during mid-day trading on Wednesday, hitting $27.07. 243,863 shares of the company's stock traded hands, compared to its average volume of 171,391. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56. The firm's 50 day simple moving average is $26.80 and its 200 day simple moving average is $28.62. Thermon Group Holdings, Inc. has a 1 year low of $23.05 and a 1 year high of $34.36. The company has a market cap of $895.72 million, a PE ratio of 19.90 and a beta of 1.07.

Thermon Group (NYSE:THR - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The technology company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.06. The business had revenue of $134.08 million during the quarter, compared to the consensus estimate of $133.65 million. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. Sell-side analysts expect that Thermon Group Holdings, Inc. will post 1.88 EPS for the current 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.