SG Americas Securities LLC Reduces Position in Thermon Group Holdings, Inc. $THR

Key Points

• SG Americas Securities LLC cut its Thermon Group stake by 73.8% in the first quarter, selling 16,680 shares and leaving it with 5,932 shares valued at about $299,000.
• Thermon Group’s earnings report showed mixed results: EPS of $0.55 narrowly missed estimates, but revenue came in above expectations at $148.33 million and rose 10.6% year over year.
• Wall Street sentiment remains cautious, with several recent rating changes leaving Thermon Group at a consensus Hold and an average target price of $57.00.

SG Americas Securities LLC lessened its holdings in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 73.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,932 shares of the technology company's stock after selling 16,680 shares during the quarter. SG Americas Securities LLC's holdings in Thermon Group were worth $299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oliver Luxxe Assets LLC bought a new stake in shares of Thermon Group during the 4th quarter valued at $1,100,000. Allspring Global Investments Holdings LLC bought a new position in Thermon Group in the 4th quarter worth about $3,758,000. Denali Advisors LLC bought a new position in Thermon Group in the 4th quarter worth about $638,000. Peregrine Asset Advisers Inc. purchased a new position in Thermon Group during the 4th quarter valued at about $2,282,000. Finally, Harvey Partners LLC grew its holdings in Thermon Group by 20.6% during the 3rd quarter. Harvey Partners LLC now owns 771,500 shares of the technology company's stock valued at $20,614,000 after buying an additional 131,769 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on THR. Weiss Ratings downgraded shares of Thermon Group from a "buy (b)" rating to a "hold (c)" rating in a report on Tuesday, May 26th. Wall Street Zen raised shares of Thermon Group to a "hold" rating in a research note on Saturday, May 30th. Finally, Zacks Research lowered shares of Thermon Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Six analysts have rated the stock with a Hold rating, According to MarketBeat, Thermon Group presently has a consensus rating of "Hold" and an average target price of $57.00.

Thermon Group Price Performance

Thermon Group stock opened at $61.14 on Friday. 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 company has a quick ratio of 1.76, a current ratio of 2.69 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $63.08 and a 200 day simple moving average of $52.87. Thermon Group Holdings, Inc. has a 52 week low of $23.86 and a 52 week high of $71.87.

Thermon Group (NYSE:THR - Get Free Report) last released its quarterly earnings results on Tuesday, May 19th. The technology company reported $0.55 earnings per share 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 analysts' expectations 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 was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 EPS. On average, research analysts forecast that Thermon Group Holdings, Inc. will post 2.27 earnings per share for the current fiscal year.

Thermon Group 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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