New South Capital Management Inc. Sells 73,885 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

New South Capital Management Inc. lowered its stake in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent 13F filing 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 approximately 1.75% of Thermon Group worth $16,459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in THR. SG Americas Securities LLC boosted its position in shares of Thermon Group by 221.6% in the first quarter. SG Americas Securities LLC now owns 20,346 shares of the technology company's stock valued at $567,000 after acquiring an additional 14,019 shares during the period. Wedge Capital Management L L P NC increased its holdings in Thermon Group by 18.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 49,353 shares of the technology company's stock worth $1,374,000 after acquiring an additional 7,629 shares during the period. Rhumbline Advisers lifted its stake in Thermon Group by 3.7% in the 1st quarter. Rhumbline Advisers now owns 48,192 shares of the technology company's stock worth $1,342,000 after purchasing an additional 1,709 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 978 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of Thermon Group by 4.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 254,351 shares of the technology company's stock valued at $7,318,000 after purchasing an additional 10,714 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

Thermon Group Price Performance

THR stock traded up $0.18 during midday trading on Friday, reaching $29.12. The company had a trading volume of 62,894 shares, compared to its average volume of 171,272. The firm has a 50-day moving average price of $27.75 and a 200-day moving average price of $28.03. The company has a market capitalization of $968.04 million, a P/E ratio of 18.55 and a beta of 1.05. Thermon Group Holdings, Inc. has a 1 year low of $23.05 and a 1 year high of $34.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.64.

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 the consensus estimate of $0.50 by $0.06. Thermon Group had a net margin of 10.74% and a return on equity of 13.08%. The company had revenue of $134.08 million during the quarter, compared to analyst estimates of $133.65 million. During the same period in the previous year, the business earned $0.34 earnings per share. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. On average, research analysts anticipate that Thermon Group Holdings, Inc. will post 1.88 earnings per share 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 report on Saturday, May 24th.

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.