Thermon Group (NYSE:THR) Reaches New 12-Month High at $34.91

Shares of Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $34.91 and last traded at $34.72, with a volume of 26244 shares changing hands. The stock had previously closed at $34.54.

Analyst Ratings Changes

A number of analysts recently commented on THR shares. StockNews.com upgraded Thermon Group from a "hold" rating to a "buy" rating in a report on Saturday, May 4th. Roth Mkm began coverage on Thermon Group in a report on Wednesday, March 6th. They set a "buy" rating and a $36.00 price objective for the company. Finally, CJS Securities assumed coverage on shares of Thermon Group in a research note on Monday, April 29th. They issued an "outperform" rating and a $42.00 price target for the company.

Thermon Group Stock Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 2.22 and a quick ratio of 1.53. The stock has a market cap of $1.16 billion, a P/E ratio of 23.88 and a beta of 1.17. The company has a 50 day simple moving average of $31.12 and a 200-day simple moving average of $30.42.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Thermon Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,363,315 shares of the technology company's stock valued at $109,543,000 after acquiring an additional 21,971 shares during the period. FMR LLC boosted its stake in shares of Thermon Group by 99.0% during the third quarter. FMR LLC now owns 1,841,520 shares of the technology company's stock valued at $50,587,000 after purchasing an additional 916,248 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Thermon Group by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,775,583 shares of the technology company's stock worth $57,833,000 after purchasing an additional 4,599 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Thermon Group by 44.8% in the third quarter. Wellington Management Group LLP now owns 1,724,846 shares of the technology company's stock worth $47,382,000 after buying an additional 533,474 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in Thermon Group by 22.2% during the 1st quarter. William Blair Investment Management LLC now owns 901,244 shares of the technology company's stock valued at $29,489,000 after buying an additional 163,640 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

About Thermon Group

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 provides 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.