Diamond Hill Capital Management Inc. Has $2.56 Million Stake in Thermon Group Holdings, Inc. (NYSE:THR)

Key Points

• Diamond Hill Capital Management Inc. increased its stake in Thermon Group Holdings, Inc. by 35% during the 1st quarter, holding 92,054 shares valued at approximately $2.56 million.
• Institutional investors overall own 99.76% of Thermon Group's stock, indicating a strong institutional interest in the company.
• Thermon Group reported earnings per share of $0.56 for the last quarter, exceeding analysts' expectations and marking a 5% year-over-year revenue increase.

Diamond Hill Capital Management Inc. boosted its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 35.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,054 shares of the technology company's stock after purchasing an additional 23,853 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.27% of Thermon Group worth $2,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in THR. Medina Value Partners LLC bought a new stake in shares of Thermon Group in the fourth quarter valued at about $17,747,000. Kennedy Capital Management LLC raised its stake in Thermon Group by 55.6% in the 4th quarter. Kennedy Capital Management LLC now owns 333,640 shares of the technology company's stock worth $9,599,000 after purchasing an additional 119,277 shares in the last quarter. Lightrock Netherlands B.V. raised its stake in Thermon Group by 42.8% in the 1st quarter. Lightrock Netherlands B.V. now owns 246,725 shares of the technology company's stock worth $6,883,000 after purchasing an additional 73,948 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Thermon Group by 2.6% in the 4th 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 in the last quarter. Finally, Bank of America Corp DE raised its stake in Thermon Group by 127.9% in the 4th quarter. Bank of America Corp DE now owns 73,363 shares of the technology company's stock worth $2,111,000 after purchasing an additional 41,178 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

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 Stock Performance

Thermon Group stock traded up $0.03 during midday trading on Monday, hitting $28.15. The company's stock had a trading volume of 25,298 shares, compared to its average volume of 183,149. Thermon Group Holdings, Inc. has a 1-year low of $23.05 and a 1-year high of $33.73. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.64. The company has a 50-day moving average price of $27.73 and a two-hundred day moving average price of $27.92. The company has a market cap of $935.71 million, a price-to-earnings ratio of 17.92 and a beta of 1.05.

Thermon Group (NYSE:THR - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.06. The firm had revenue of $134.08 million for the quarter, compared to the consensus estimate of $133.65 million. Thermon Group had a net margin of 10.74% and a return on equity of 13.08%. The business's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. As a group, sell-side analysts predict that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current year.

Thermon Group 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.