New South Capital Management Inc. Has $16.46 Million Stake in Thermon Group Holdings, Inc. (NYSE:THR)

New South Capital Management Inc. lowered its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 590,990 shares of the technology company's stock after selling 73,885 shares during the quarter. New South Capital Management Inc. owned about 1.75% of Thermon Group worth $16,459,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP boosted its holdings in shares of 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 buying an additional 647 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Thermon Group by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,977 shares of the technology company's stock worth $546,000 after acquiring an additional 678 shares during the last quarter. American Century Companies Inc. boosted its holdings in Thermon Group by 1.7% during the fourth quarter. American Century Companies Inc. now owns 49,926 shares of the technology company's stock valued at $1,436,000 after acquiring an additional 857 shares during the period. Assetmark Inc. acquired a new stake in shares of Thermon Group in the fourth quarter valued at about $26,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Thermon Group by 5.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 19,670 shares of the technology company's stock valued at $566,000 after purchasing an additional 955 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Thermon Group Stock Performance

Shares of THR stock traded up $0.18 during trading hours on Friday, reaching $29.12. 62,894 shares of the company's stock were exchanged, compared to its average volume of 171,600. Thermon Group Holdings, Inc. has a fifty-two week low of $23.05 and a fifty-two week high of $34.36. The company has a quick ratio of 1.64, a current ratio of 2.43 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $967.95 million, a P/E ratio of 18.55 and a beta of 1.05. The business has a fifty day moving average price of $27.81 and a 200-day moving average price of $28.01.

Thermon Group (NYSE:THR - Get Free Report) last announced its 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. Thermon Group had a net margin of 10.74% and a return on equity of 13.08%. The business had revenue of $134.08 million for the quarter, compared to analyst estimates of $133.65 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Thermon Group's revenue was up 5.0% compared to the same quarter last year. Analysts predict that Thermon Group Holdings, Inc. will post 1.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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.