Polar Asset Management Partners Inc. Acquires New Stake in Thermon Group Holdings, Inc. $THR

Key Points

• Polar Asset Management Partners acquired 37,987 Thermon Group shares worth approximately $1.915 million, representing about 0.12% of the company. Other institutional investors also significantly increased their positions, with institutions collectively owning 99.76% of THR.
• Analyst sentiment remains neutral: six analysts rate Thermon Group “Hold,” with a consensus price target of $57, below the stock’s reported opening price of $61.14.
• Thermon reported quarterly revenue of $148.33 million, up 10.6% year over year and above estimates, but earnings of $0.55 per share narrowly missed the $0.56 consensus forecast.

Polar Asset Management Partners Inc. acquired a new stake in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 37,987 shares of the technology company's stock, valued at approximately $1,915,000. Polar Asset Management Partners Inc. owned approximately 0.12% of Thermon Group as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of THR. Clifford Capital Partners LLC boosted its position in Thermon Group by 2,551.8% during the fourth quarter. Clifford Capital Partners LLC now owns 430,230 shares of the technology company's stock worth $15,987,000 after acquiring an additional 414,006 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Thermon Group by 960.3% during the 4th quarter. Janus Henderson Group PLC now owns 250,813 shares of the technology company's stock worth $9,320,000 after purchasing an additional 227,157 shares during the last quarter. Invesco Ltd. grew its position in shares of Thermon Group by 445.3% in the fourth quarter. Invesco Ltd. now owns 273,068 shares of the technology company's stock valued at $10,147,000 after purchasing an additional 222,990 shares in the last quarter. UBS Group AG grew its position in shares of Thermon Group by 287.4% in the third quarter. UBS Group AG now owns 288,370 shares of the technology company's stock valued at $7,705,000 after purchasing an additional 213,935 shares in the last quarter. Finally, GW&K Investment Management LLC increased its holdings in shares of Thermon Group by 13.8% in the fourth quarter. GW&K Investment Management LLC now owns 1,627,257 shares of the technology company's stock valued at $60,469,000 after purchasing an additional 197,715 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on THR. Wall Street Zen raised Thermon Group to a "hold" rating in a research note on Saturday, May 30th. Weiss Ratings cut shares of Thermon Group from a "buy (b)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Thermon Group has an average rating of "Hold" and a consensus price target of $57.00.

Thermon Group Price Performance

THR stock opened at $61.14 on Tuesday. Thermon Group Holdings, Inc. has a 52-week low of $23.86 and a 52-week high of $71.87. The company has a quick ratio of 1.76, a current ratio of 2.69 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 45.63 and a beta of 0.83. The business has a fifty day moving average of $62.02 and a two-hundred day moving average of $54.79.

Thermon Group (NYSE:THR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 19th. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The business had revenue of $148.33 million during the quarter, compared to analyst estimates of $137.85 million. Thermon Group had a net margin of 8.31% and a return on equity of 13.42%. The business's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company earned $0.56 EPS. As a group, research analysts anticipate that Thermon Group Holdings, Inc. will post 2.27 earnings per share for the current year.

Thermon Group Company Profile

Thermon Group, Inc NYSE: THR is a global provider of engineered thermal solutions designed to maintain process temperatures, prevent freezing and improve energy efficiency across industrial, commercial and power generation applications. The company specializes in the design, manufacture, installation and service of heat tracing systems, insulation and protective coatings for pipelines, tanks, vessels and other critical equipment.

Thermon's core offerings include electric heat tracing, steam tracing, custom-engineered control panels, monitoring systems and advanced sensor technologies.

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