Strs Ohio Makes New Investment in Thermon Group Holdings, Inc. $THR

Key Points

• Strs Ohio established a new position in Thermon Group (NYSE: THR) in Q4, buying 19,100 shares worth about $710,000 and owning roughly 0.06% of the company, while institutional investors hold about 99.76% of the stock.
• Thermon beat quarterly estimates, reporting $0.66 EPS vs. $0.59 expected and $147.31M revenue (up 9.6% YoY), with a net margin of 11.26% and return on equity of 13.82%.
• Several analysts have downgraded the stock, leaving a consensus rating of "Hold" and an average price target of $57.00, below the recent share price (opened at $65.56).

Strs Ohio bought a new position in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,100 shares of the technology company's stock, valued at approximately $710,000. Strs Ohio owned approximately 0.06% of Thermon Group as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in THR. Canada Pension Plan Investment Board purchased a new stake in shares of Thermon Group during the 2nd quarter worth $31,000. Assetmark Inc. increased its holdings in Thermon Group by 68.1% in the third quarter. Assetmark Inc. now owns 1,530 shares of the technology company's stock valued at $41,000 after buying an additional 620 shares during the last quarter. Danske Bank A S purchased a new position in Thermon Group in the third quarter valued at $45,000. State of Alaska Department of Revenue acquired a new stake in Thermon Group in the third quarter valued at $48,000. Finally, Federated Hermes Inc. raised its stake in Thermon Group by 18.5% in the third quarter. Federated Hermes Inc. now owns 2,615 shares of the technology company's stock valued at $70,000 after buying an additional 409 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Thermon Group Price Performance

Shares of NYSE:THR opened at $65.56 on Friday. The company's fifty day moving average price is $52.30 and its 200 day moving average price is $43.64. Thermon Group Holdings, Inc. has a 12 month low of $23.86 and a 12 month high of $71.24. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.90 and a quick ratio of 1.84. The firm has a market capitalization of $2.16 billion, a P/E ratio of 37.25 and a beta of 0.83.

Thermon Group (NYSE:THR - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. Thermon Group had a net margin of 11.26% and a return on equity of 13.82%. The firm had revenue of $147.31 million for the quarter, compared to analyst estimates of $138.35 million. During the same period last year, the business earned $0.56 EPS. Thermon Group's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts predict that Thermon Group Holdings, Inc. will post 2.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on THR shares. Roth Mkm cut Thermon Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Craig Hallum cut Thermon Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. Zacks Research cut Thermon Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. William Blair cut Thermon Group from an "outperform" rating to a "hold" rating in a research report on Wednesday, February 25th. Finally, CJS Securities cut Thermon Group from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Thermon Group currently has a consensus rating of "Hold" and an average price target of $57.00.

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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