Thermon Group Holdings, Inc. $THR Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. has reduced its stake in Thermon Group Holdings, Inc. by 22.4%, now holding approximately 2.75 million shares worth about $76.46 million.
• Wall Street analysts downgraded Thermon Group from a "strong-buy" rating to a "hold" rating, suggesting a shift in market confidence regarding the stock.
• Thermon Group reported earnings of $0.36 per share for the latest quarter, missing expectations and indicating a 5.4% decline in revenue year-over-year.

T. Rowe Price Investment Management Inc. cut its position in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,745,386 shares of the technology company's stock after selling 791,270 shares during the period. T. Rowe Price Investment Management Inc. owned 8.15% of Thermon Group worth $76,460,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Thermon Group in the fourth quarter valued at about $755,000. Barclays PLC raised its holdings in shares of Thermon Group by 9.5% during the 4th quarter. Barclays PLC now owns 59,307 shares of the technology company's stock valued at $1,706,000 after buying an additional 5,158 shares in the last quarter. Commerce Bank bought a new position in shares of Thermon Group during the fourth quarter valued at about $269,000. Dimensional Fund Advisors LP grew its holdings in shares of Thermon Group by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,757,889 shares of the technology company's stock worth $50,574,000 after purchasing an additional 44,137 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Thermon Group by 9.4% in the fourth quarter. MetLife Investment Management LLC now owns 20,215 shares of the technology company's stock valued at $582,000 after acquiring an additional 1,729 shares during the period. 99.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Thermon Group Stock Down 2.1%

NYSE THR traded down $0.57 during trading on Thursday, reaching $26.28. 37,095 shares of the company's stock traded hands, compared to its average volume of 186,233. The company's 50 day simple moving average is $27.30 and its two-hundred day simple moving average is $27.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.43 and a quick ratio of 1.49. The firm has a market cap of $868.92 million, a price-to-earnings ratio of 16.69 and a beta of 1.09. Thermon Group Holdings, Inc. has a 12-month low of $23.05 and a 12-month high of $33.25.

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

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.