Swedbank AB Acquires 32,000 Shares of Thermon Group Holdings, Inc. $THR

Key Points

• Swedbank AB increased its stake in Thermon Group Holdings, Inc. by 5.2%, owning approximately 653,000 shares valued at $18.34 million as of the latest SEC filing.
• Several institutional investors have also boosted their positions in Thermon Group, with Bank of America Corp. increasing its stake by 127.9% during the fourth quarter.
• Thermon Group reported quarterly earnings of $0.36 per share, missing estimates and showing a decline in year-over-year revenue by 5.4%.

Swedbank AB grew its holdings in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 653,000 shares of the technology company's stock after buying an additional 32,000 shares during the period. Swedbank AB owned 1.96% of Thermon Group worth $18,336,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in THR. Bank of America Corp DE lifted its position in shares of Thermon Group by 127.9% in the fourth quarter. Bank of America Corp DE now owns 73,363 shares of the technology company's stock valued at $2,111,000 after buying an additional 41,178 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Thermon Group by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,977 shares of the technology company's stock worth $546,000 after purchasing an additional 678 shares during the period. ProShare Advisors LLC bought a new position in shares of Thermon Group during the fourth quarter worth approximately $270,000. Point72 Asset Management L.P. bought a new position in shares of Thermon Group during the fourth quarter worth approximately $192,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Thermon Group by 14.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,269 shares of the technology company's stock worth $2,223,000 after purchasing an additional 9,718 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

Thermon Group Price Performance

Shares of THR stock traded up $0.10 during trading hours on Monday, reaching $27.51. The company's stock had a trading volume of 217,257 shares, compared to its average volume of 196,113. The company has a quick ratio of 1.49, a current ratio of 2.43 and a debt-to-equity ratio of 0.23. Thermon Group Holdings, Inc. has a fifty-two week low of $23.05 and a fifty-two week high of $33.25. The company has a market capitalization of $909.48 million, a price-to-earnings ratio of 17.41 and a beta of 1.14. The firm's 50 day simple moving average is $26.59 and its 200-day simple moving average is $27.20.

Thermon Group (NYSE:THR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Thermon Group had a net margin of 10.89% and a return on equity of 12.65%. The firm had revenue of $108.90 million for the quarter, compared to analyst estimates of $122.53 million. During the same period last year, the business earned $0.38 EPS. The company's revenue was down 5.4% compared to the same quarter last year. Thermon Group has set its FY 2026 guidance at 1.770-1.990 EPS. Sell-side analysts forecast that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Thermon Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th.

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.