Bank of America Corp DE Purchases 41,178 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Bank of America Corp DE increased its position in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 127.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,363 shares of the technology company's stock after buying an additional 41,178 shares during the period. Bank of America Corp DE owned 0.22% of Thermon Group worth $2,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP boosted its position in Thermon Group by 314.1% during the fourth quarter. Quarry LP now owns 853 shares of the technology company's stock worth $25,000 after purchasing an additional 647 shares during the period. Assetmark Inc. bought a new stake in Thermon Group during the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC bought a new stake in Thermon Group during the fourth quarter worth approximately $47,000. AlphaQuest LLC boosted its position in Thermon Group by 57,825.0% during the fourth quarter. AlphaQuest LLC now owns 2,317 shares of the technology company's stock worth $67,000 after purchasing an additional 2,313 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Thermon Group by 4,731.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,865 shares of the technology company's stock worth $111,000 after purchasing an additional 3,785 shares during the period. Institutional investors and hedge funds own 99.76% of the company's stock.

Thermon Group Stock Performance

Shares of THR traded up $0.47 during mid-day trading on Friday, hitting $27.71. The company's stock had a trading volume of 215,357 shares, compared to its average volume of 171,812. Thermon Group Holdings, Inc. has a one year low of $23.05 and a one year high of $34.36. 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 has a market capitalization of $916.93 million, a PE ratio of 20.38 and a beta of 1.04. The stock's 50-day moving average is $26.75 and its two-hundred day moving average is $28.56.

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

Wall Street Analyst Weigh In

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

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.