Thermon Group Holdings, Inc. (NYSE:THR) Shares Sold by Federated Hermes Inc.

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.

Federated Hermes Inc. reduced its stake in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 91.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quarry LP grew its position in Thermon Group by 314.1% in the 4th quarter. Quarry LP now owns 853 shares of the technology company's stock valued at $25,000 after acquiring an additional 647 shares in the last quarter. CWM LLC grew 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 grew its position in Thermon Group by 3,912.0% in the 1st quarter. GAMMA Investing LLC now owns 1,003 shares of the technology company's stock valued at $28,000 after acquiring an additional 978 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Thermon Group in the 4th quarter valued at about $192,000. Finally, Norges Bank acquired a new position in Thermon Group in the 4th quarter valued at about $230,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Thermon Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th.

Thermon Group Trading Up 0.9%

NYSE THR traded up $0.23 during trading on Friday, hitting $25.53. The stock had a trading volume of 41,946 shares, compared to its average volume of 186,641. The company has a market capitalization of $843.86 million, a PE ratio of 16.16 and a beta of 1.09. The company has a quick ratio of 1.64, a current ratio of 2.43 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average price of $27.60 and a 200 day moving average price of $27.72. Thermon Group Holdings, Inc. has a twelve month low of $23.05 and a twelve month high of $33.25.

Thermon Group (NYSE:THR - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Thermon Group had a net margin of 10.89% and a return on equity of 12.65%. The firm had revenue of $108.90 million during the quarter, compared to analyst estimates of $122.53 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The business's revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current year.

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.