Raymond James Financial Inc. Invests $755,000 in Thermon Group Holdings, Inc. (NYSE:THR)

Raymond James Financial Inc. acquired a new stake in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,259 shares of the technology company's stock, valued at approximately $755,000. Raymond James Financial Inc. owned about 0.08% of Thermon Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in Thermon Group by 2.1% in the 3rd quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company's stock worth $595,000 after buying an additional 422 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Thermon Group by 2.1% in the fourth quarter. D.A. Davidson & CO. now owns 29,908 shares of the technology company's stock worth $860,000 after acquiring an additional 626 shares during the period. Riverpoint Wealth Management Holdings LLC grew its position in shares of Thermon Group by 1.7% in the fourth quarter. Riverpoint Wealth Management Holdings LLC now owns 47,862 shares of the technology company's stock valued at $1,377,000 after purchasing an additional 805 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Thermon Group by 1.7% during the 4th quarter. American Century Companies Inc. now owns 49,926 shares of the technology company's stock valued at $1,436,000 after purchasing an additional 857 shares during the period. Finally, Assetmark Inc. purchased a new stake in Thermon Group during the 4th quarter worth about $26,000. Institutional investors own 99.76% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Thermon Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th.

Thermon Group Price Performance

Shares of THR traded up $0.18 during mid-day trading on Friday, reaching $28.66. 102,979 shares of the stock traded hands, compared to its average volume of 167,289. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28. Thermon Group Holdings, Inc. has a 1 year low of $23.05 and a 1 year high of $35.93. The company has a market cap of $965.56 million, a price-to-earnings ratio of 21.07 and a beta of 1.07. The firm has a fifty day moving average price of $27.16 and a 200 day moving average price of $28.59.

Thermon Group (NYSE:THR - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. As a group, equities research analysts predict that Thermon Group Holdings, Inc. will post 1.88 earnings per share 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.