Needham Investment Management LLC Trims Stock Position in Thermon Group Holdings, Inc. $THR

Key Points

• Needham Investment Management LLC has reduced its stake in Thermon Group by 1.9%, now holding 642,500 shares worth approximately $17.9 million, making it the firm's 16th largest position.
• Thermon Group reported quarterly earnings of $0.36 per share, missing analysts' expectations, with revenue of $108.9 million, representing a 5.4% decline year-over-year.
• As of now, 99.76% of Thermon Group's shares are owned by institutional investors and hedge funds.

Needham Investment Management LLC lessened its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 642,500 shares of the technology company's stock after selling 12,500 shares during the quarter. Thermon Group makes up about 1.7% of Needham Investment Management LLC's portfolio, making the stock its 16th biggest position. Needham Investment Management LLC owned approximately 1.91% of Thermon Group worth $17,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. CWM LLC boosted its position in Thermon Group by 68.9% during the 1st quarter. CWM LLC now owns 922 shares of the technology company's stock valued at $26,000 after acquiring an additional 376 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Thermon Group by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 109,898 shares of the technology company's stock worth $3,061,000 after buying an additional 631 shares during the last quarter. Principal Financial Group Inc. increased its position in Thermon Group by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 17,990 shares of the technology company's stock valued at $501,000 after buying an additional 639 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Thermon Group by 3.7% during 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 buying an additional 678 shares in the last quarter. Finally, Commerce Bank boosted its holdings in Thermon Group by 8.1% in the first quarter. Commerce Bank now owns 10,105 shares of the technology company's stock worth $281,000 after acquiring an additional 755 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

Wall Street Analyst Weigh In

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

Thermon Group Stock Performance

THR traded up $0.84 during trading on Thursday, reaching $25.82. 49,854 shares of the company's stock were exchanged, compared to its average volume of 188,827. Thermon Group Holdings, Inc. has a 1 year low of $23.05 and a 1 year high of $33.25. 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 stock has a market capitalization of $853.48 million, a P/E ratio of 16.34 and a beta of 1.14. The company's fifty day simple moving average is $26.89 and its 200-day simple moving average is $27.35.

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