Wedge Capital Management L L P NC Purchases 9,201 Shares of Thermon Group Holdings, Inc. $THR

Key Points

• Wedge Capital Management L L P NC increased its stake in Thermon Group Holdings by 18.6%, acquiring an additional 9,201 shares, bringing its total to 58,554 shares valued at approximately $1.64 million.
• Wall Street analysts have revised their rating for Thermon Group from "strong-buy" to "hold", indicating a cautious outlook on the stock moving forward.
• Thermon Group reported earnings of $0.36 per share for the last quarter, falling short of the expected $0.37, with revenue also missing estimates at $108.9 million compared to expectations of $122.53 million.

Wedge Capital Management L L P NC grew its position in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 18.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,554 shares of the technology company's stock after purchasing an additional 9,201 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.18% of Thermon Group worth $1,644,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. CWM LLC raised its position in shares of Thermon Group by 68.9% in the first quarter. CWM LLC now owns 922 shares of the technology company's stock valued at $26,000 after purchasing an additional 376 shares during the period. Bank of New York Mellon Corp raised its position in shares of 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 purchasing an additional 631 shares during the period. Principal Financial Group Inc. raised its position in shares of Thermon Group by 3.7% in the first quarter. Principal Financial Group Inc. now owns 17,990 shares of the technology company's stock valued at $501,000 after purchasing an additional 639 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Thermon Group by 3.7% in the fourth 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 period. Finally, Commerce Bank raised its position in shares of Thermon Group by 8.1% in the first quarter. Commerce Bank now owns 10,105 shares of the technology company's stock valued at $281,000 after purchasing an additional 755 shares during the period. Institutional investors own 99.76% of the company's stock.

Wall Street Analyst Weigh In

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

Thermon Group Trading Up 0.4%

Shares of THR stock opened at $27.51 on Tuesday. Thermon Group Holdings, Inc. has a 1 year low of $23.05 and a 1 year high of $33.25. The firm's fifty day simple moving average is $26.58 and its 200 day simple moving average is $27.20. The firm has a market capitalization of $909.48 million, a P/E ratio of 17.41 and a beta of 1.14. The company has a current ratio of 2.43, a quick ratio of 1.49 and a debt-to-equity ratio of 0.23.

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

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