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Federated Hermes Inc. Sells 24,231 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Thermon Group logo with Computer and Technology background

Key Points

  • Federated Hermes Inc. significantly reduced its holdings in Thermon Group Holdings, Inc. by selling 24,231 shares, resulting in a 91.2% decrease, leaving them with only 2,345 shares valued at approximately $65,000.
  • Thermon Group reported a net margin of 10.89% and a decrease in revenue of 5.4% year-over-year, indicating challenges in maintaining financial performance, with quarterly earnings of $0.36 per share, missing estimates.
  • Shares of Thermon Group have fluctuated between a 1-year low of $23.05 and a high of $33.25, currently trading at $24.07, with institutional investors owning approximately 99.76% of the company's stock.
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Federated Hermes Inc. decreased its position in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 91.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,345 shares of the technology company's stock after selling 24,231 shares during the period. Federated Hermes Inc.'s holdings in Thermon Group were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP grew its holdings in Thermon Group by 314.1% during the 4th quarter. Quarry LP now owns 853 shares of the technology company's stock worth $25,000 after acquiring an additional 647 shares during the period. CWM LLC lifted its position in Thermon Group by 68.9% in the 1st quarter. CWM LLC now owns 922 shares of the technology company's stock valued at $26,000 after acquiring an additional 376 shares in the last quarter. GAMMA Investing LLC lifted its position in Thermon Group by 3,912.0% during the 1st quarter. GAMMA Investing LLC now owns 1,003 shares of the technology company's stock worth $28,000 after buying an additional 978 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Thermon Group during the 4th quarter worth about $192,000. Finally, Norges Bank acquired a new position in shares of Thermon Group during the 4th quarter worth about $230,000. Institutional investors and hedge funds own 99.76% of the company's stock.

Thermon Group Stock Performance

Shares of Thermon Group stock opened at $24.07 on Monday. The company has a 50 day moving average of $27.70 and a 200-day moving average of $27.80. Thermon Group Holdings, Inc. has a 1-year low of $23.05 and a 1-year high of $33.25. The company has a current ratio of 2.43, a quick ratio of 1.64 and a debt-to-equity ratio of 0.24. The company has a market cap of $795.59 million, a PE ratio of 15.23 and a beta of 1.09.

Thermon Group (NYSE:THR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $108.90 million during the quarter, compared to the consensus estimate of $122.53 million. Thermon Group had a net margin of 10.89% and a return on equity of 12.76%. Thermon Group's revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. As a group, equities research analysts forecast that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Thermon Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday.

Read Our Latest Report on THR

About Thermon Group

(Free Report)

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.

Featured Articles

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Institutional Ownership by Quarter for Thermon Group (NYSE:THR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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