Lazard Asset Management LLC Buys 9,563 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Lazard Asset Management LLC raised its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 37.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,814 shares of the technology company's stock after buying an additional 9,563 shares during the quarter. Lazard Asset Management LLC owned about 0.10% of Thermon Group worth $1,001,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in THR. Quarry LP raised its stake in Thermon Group by 314.1% during the fourth quarter. Quarry LP now owns 853 shares of the technology company's stock valued at $25,000 after buying an additional 647 shares during the last quarter. Assetmark Inc. purchased a new position in Thermon Group during the fourth quarter valued at $26,000. Venturi Wealth Management LLC purchased a new position in Thermon Group during the fourth quarter valued at $47,000. AlphaQuest LLC raised its stake in Thermon Group by 57,825.0% during the fourth quarter. AlphaQuest LLC now owns 2,317 shares of the technology company's stock valued at $67,000 after buying an additional 2,313 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Thermon Group by 4,731.3% in 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 last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

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

Thermon Group Stock Performance

Shares of NYSE:THR traded down $2.36 during midday trading on Friday, reaching $26.51. 378,729 shares of the company's stock traded hands, compared to its average volume of 169,570. The company has a market cap of $893.22 million, a price-to-earnings ratio of 19.49 and a beta of 1.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56. Thermon Group Holdings, Inc. has a one year low of $23.05 and a one year high of $35.84. The stock has a 50 day moving average of $27.28 and a 200 day moving average of $28.77.

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, beating analysts' consensus estimates of $0.50 by $0.06. The firm had revenue of $134.08 million for the quarter, compared to the consensus estimate of $133.65 million. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. The company's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. As a group, equities research analysts anticipate that Thermon Group Holdings, Inc. will post 1.88 EPS 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.