First Eagle Investment Management LLC Grows Stock Position in Thermon Group Holdings, Inc. (NYSE:THR)

First Eagle Investment Management LLC raised its holdings in Thermon Group Holdings, Inc. (NYSE:THR) by 16.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 319,411 shares of the technology company’s stock after acquiring an additional 45,800 shares during the quarter. First Eagle Investment Management LLC’s holdings in Thermon Group were worth $9,189,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assetmark Inc. purchased a new position in shares of Thermon Group in the fourth quarter worth about $26,000. Venturi Wealth Management LLC purchased a new position in shares of Thermon Group in the fourth quarter worth about $47,000. AlphaQuest LLC raised its stake in shares of Thermon Group by 57,825.0% in the fourth quarter. AlphaQuest LLC now owns 2,317 shares of the technology company’s stock worth $67,000 after purchasing an additional 2,313 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Thermon Group by 4,731.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,865 shares of the technology company’s stock worth $111,000 after purchasing an additional 3,785 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new position in shares of Thermon Group in the fourth quarter worth about $227,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Thermon Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th.

Thermon Group Stock Up 4.1 %

Thermon Group stock opened at $29.59 on Friday. The firm has a market cap of $996.72 million, a price-to-earnings ratio of 21.75 and a beta of 0.98. Thermon Group Holdings, Inc. has a 52 week low of $25.76 and a 52 week high of $35.93. The business’s 50-day moving average price is $28.82 and its 200 day moving average price is $29.23. 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) last posted its earnings results on Thursday, February 6th. The technology company reported $0.56 EPS for the quarter, topping 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, sell-side analysts anticipate that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current year.

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 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.