T. Rowe Price Investment Management Inc. Has $101.75 Million Stake in Thermon Group Holdings, Inc. (NYSE:THR)

T. Rowe Price Investment Management Inc. cut its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 17.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,536,656 shares of the technology company's stock after selling 738,729 shares during the period. T. Rowe Price Investment Management Inc. owned 10.50% of Thermon Group worth $101,750,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC boosted its stake in Thermon Group by 40.4% in the 3rd quarter. Jane Street Group LLC now owns 48,458 shares of the technology company's stock valued at $1,446,000 after purchasing an additional 13,950 shares during the period. Barclays PLC boosted its position in shares of Thermon Group by 312.1% in the third quarter. Barclays PLC now owns 54,149 shares of the technology company's stock valued at $1,616,000 after acquiring an additional 41,009 shares during the period. Geode Capital Management LLC grew its stake in shares of Thermon Group by 1.2% in the third quarter. Geode Capital Management LLC now owns 772,597 shares of the technology company's stock valued at $23,059,000 after acquiring an additional 8,910 shares in the last quarter. Franklin Resources Inc. increased its position in Thermon Group by 2.1% during the third quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company's stock worth $595,000 after acquiring an additional 422 shares during the period. Finally, 272 Capital LP acquired a new stake in Thermon Group in the 3rd quarter worth about $3,173,000. Institutional investors own 99.76% of the company's stock.

Thermon Group Price Performance

Shares of THR traded down $0.56 during trading hours on Wednesday, hitting $25.94. 22,027 shares of the company were exchanged, compared to its average volume of 168,339. The company has a market cap of $873.92 million, a price-to-earnings ratio of 19.07 and a beta of 0.96. The firm's fifty day moving average is $27.40 and its 200 day moving average is $28.64. Thermon Group Holdings, Inc. has a fifty-two week low of $23.05 and a fifty-two week high of $35.93. The company has a quick ratio of 1.71, a current ratio of 2.56 and a debt-to-equity ratio of 0.28.

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

Analysts Set New Price Targets

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

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.