27,690 Shares in Thermon Group Holdings, Inc. (NYSE:THR) Purchased by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP has made a new investment in Thermon Group Holdings, acquiring 27,690 shares valued at approximately $771,000, increasing its ownership in the company to 0.08%.
• Thermon Group reported $0.56 earnings per share for the latest quarter, exceeding analyst expectations and demonstrating a 5.0% year-over-year revenue growth.
• Analysts upgraded Thermon Group from a "buy" rating to a "strong-buy" rating, reflecting growing confidence in the company's financial performance.

GSA Capital Partners LLP purchased a new position in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 27,690 shares of the technology company's stock, valued at approximately $771,000. GSA Capital Partners LLP owned 0.08% of Thermon Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Diamond Hill Capital Management Inc. lifted its holdings in shares of Thermon Group by 35.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 92,054 shares of the technology company's stock worth $2,564,000 after purchasing an additional 23,853 shares during the period. Riverpoint Wealth Management Holdings LLC lifted its holdings in Thermon Group by 1.7% in the first quarter. Riverpoint Wealth Management Holdings LLC now owns 48,687 shares of the technology company's stock valued at $1,356,000 after buying an additional 825 shares during the period. GW&K Investment Management LLC increased its stake in Thermon Group by 1.6% in the first quarter. GW&K Investment Management LLC now owns 592,262 shares of the technology company's stock valued at $16,494,000 after purchasing an additional 9,292 shares in the last quarter. CWM LLC increased its position in shares of Thermon Group by 68.9% during the first quarter. CWM LLC now owns 922 shares of the technology company's stock worth $26,000 after acquiring an additional 376 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in Thermon Group during the first quarter worth about $446,000. Institutional investors and hedge funds own 99.76% of the company's stock.

Wall Street Analyst Weigh In

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

Thermon Group Price Performance

Shares of Thermon Group stock traded up $0.55 on Tuesday, hitting $28.45. 36,636 shares of the company traded hands, compared to its average volume of 181,168. The company has a market cap of $945.63 million, a P/E ratio of 18.10 and a beta of 1.09. The firm's 50-day simple moving average is $27.69 and its 200 day simple moving average is $27.89. Thermon Group Holdings, Inc. has a 12-month low of $23.05 and a 12-month 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.

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

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.