TD Asset Management Inc Has $1.36 Million Holdings in Thermon Group Holdings, Inc. (NYSE:THR)

Key Points

• TD Asset Management Inc reduced its holdings in Thermon Group Holdings by 26.1%, owning 48,808 shares valued at approximately $1.36 million as of the latest SEC filing.
• Other institutional investors, including Vanguard Group Inc. and Raymond James Financial Inc., have made notable adjustments to their stakes in Thermon Group, indicating heavy institutional interest.
• Thermon Group reported $0.56 earnings per share for the last quarter, surpassing expectations, with a year-over-year revenue increase of 5%, totaling $134.08 million.

TD Asset Management Inc reduced its holdings in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 26.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,808 shares of the technology company's stock after selling 17,224 shares during the quarter. TD Asset Management Inc owned approximately 0.14% of Thermon Group worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in THR. CWM LLC lifted its holdings in shares of Thermon Group by 68.9% in the 1st quarter. CWM LLC now owns 922 shares of the technology company's stock worth $26,000 after purchasing an additional 376 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Thermon Group by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 109,898 shares of the technology company's stock valued at $3,061,000 after buying an additional 631 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Thermon Group by 3.7% during the first quarter. Principal Financial Group Inc. now owns 17,990 shares of the technology company's stock valued at $501,000 after acquiring an additional 639 shares during the period. Quarry LP grew its position in shares of Thermon Group by 314.1% during the fourth quarter. Quarry LP now owns 853 shares of the technology company's stock worth $25,000 after acquiring an additional 647 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Thermon Group by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,977 shares of the technology company's stock valued at $546,000 after purchasing an additional 678 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Thermon Group Stock Performance

Shares of NYSE:THR traded up $0.51 on Tuesday, hitting $28.41. The company's stock had a trading volume of 172,526 shares, compared to its average volume of 127,216. The stock's 50-day moving average is $27.69 and its two-hundred day moving average is $27.89. The company has a market capitalization of $944.25 million, a price-to-earnings ratio of 18.09 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. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.64 and a current ratio of 2.43.

Thermon Group (NYSE:THR - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The technology company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.06. Thermon Group had a return on equity of 13.08% and a net margin of 10.74%. The company had revenue of $134.08 million for the quarter, compared to the consensus estimate of $133.65 million. During the same quarter in the previous year, the business earned $0.34 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts forecast that Thermon Group Holdings, Inc. will post 1.88 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Thermon Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th.

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.