Cerity Partners LLC Makes New $446,000 Investment in Thermon Group Holdings, Inc. (NYSE:THR)

Key Points

• Cerity Partners LLC acquired a new stake in Thermon Group Holdings, Inc. by purchasing 16,008 shares valued at approximately $446,000 in the first quarter.
• Hedge funds and institutional investors collectively own 99.76% of Thermon Group, indicating strong interest from larger investment entities.
• Thermon Group reported earnings of $0.56 per share for the last quarter, exceeding analysts' expectations and reflecting a 5.0% year-over-year revenue growth.

Cerity Partners LLC bought a new stake in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,008 shares of the technology company's stock, valued at approximately $446,000.

Several other institutional investors and hedge funds also recently made changes to their positions in THR. Quarry LP grew its position in shares of 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 acquiring an additional 647 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Thermon Group by 3,912.0% in the first quarter. GAMMA Investing LLC now owns 1,003 shares of the technology company's stock valued at $28,000 after purchasing an additional 978 shares during the period. Quantbot Technologies LP bought a new stake in shares of Thermon Group during the fourth quarter valued at approximately $172,000. KLP Kapitalforvaltning AS acquired a new position in shares of Thermon Group during the fourth quarter worth approximately $175,000. Finally, Point72 Asset Management L.P. bought a new position in Thermon Group in the 4th quarter worth approximately $192,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Thermon Group Price Performance

Thermon Group stock traded down $0.20 during trading hours on Wednesday, hitting $28.22. 132,067 shares of the company traded hands, compared to its average volume of 118,421. Thermon Group Holdings, Inc. has a 1-year low of $23.05 and a 1-year high of $33.70. The firm has a market cap of $938.03 million, a P/E ratio of 17.97 and a beta of 1.05. The firm's 50-day simple moving average is $27.68 and its two-hundred day simple moving average is $27.93. The company has a quick ratio of 1.64, a current ratio of 2.43 and a debt-to-equity ratio of 0.24.

Thermon Group (NYSE:THR - Get Free Report) last announced its earnings results on Thursday, May 22nd. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. Thermon Group had a return on equity of 13.08% and a net margin of 10.74%. The firm had revenue of $134.08 million for the quarter, compared to analysts' expectations of $133.65 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, analysts forecast that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

About Thermon Group

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.