Rice Hall James & Associates LLC cut its stake in Thermon Group Holdings, Inc. (NYSE:THR – Free Report) by 6.5% in the 2nd quarter, Holdings Channel reports. The fund owned 97,411 shares of the technology company’s stock after selling 6,770 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Thermon Group were worth $2,996,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THR. Westwood Holdings Group Inc. purchased a new position in Thermon Group in the first quarter worth $20,415,000. Swedbank AB purchased a new position in Thermon Group in the first quarter worth $20,254,000. Wells Fargo & Company MN grew its position in Thermon Group by 595.9% in the fourth quarter. Wells Fargo & Company MN now owns 300,880 shares of the technology company’s stock worth $9,800,000 after acquiring an additional 257,646 shares in the last quarter. William Blair Investment Management LLC grew its position in Thermon Group by 22.2% in the first quarter. William Blair Investment Management LLC now owns 901,244 shares of the technology company’s stock worth $29,489,000 after acquiring an additional 163,640 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Thermon Group by 169.1% in the second quarter. Assenagon Asset Management S.A. now owns 200,354 shares of the technology company’s stock worth $6,163,000 after acquiring an additional 125,903 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.
Thermon Group Trading Up 1.8 %
Shares of THR opened at $27.79 on Thursday. The stock has a market capitalization of $941.28 million, a P/E ratio of 18.53 and a beta of 1.06. The company has a quick ratio of 1.73, a current ratio of 2.61 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $30.41 and a two-hundred day simple moving average of $30.96. Thermon Group Holdings, Inc. has a twelve month low of $23.76 and a twelve month high of $35.93.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Roth Mkm raised their price objective on Thermon Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. StockNews.com upgraded Thermon Group from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th.
View Our Latest Stock Report on Thermon Group
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 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.
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