Thermon Group Holdings, Inc. (NYSE:THR) Shares Sold by Swedbank AB

Swedbank AB lowered its position in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 3.1% in the third quarter, HoldingsChannel.com reports. The fund owned 615,000 shares of the technology company’s stock after selling 20,000 shares during the quarter. Swedbank AB’s holdings in Thermon Group were worth $18,352,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in THR. Quest Partners LLC increased its stake in shares of Thermon Group by 2,375.0% in the second quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,045 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Thermon Group in the second quarter valued at $40,000. Meeder Asset Management Inc. acquired a new stake in Thermon Group during the 2nd quarter worth about $60,000. QRG Capital Management Inc. raised its stake in shares of Thermon Group by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock valued at $210,000 after buying an additional 608 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of Thermon Group by 9.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock valued at $216,000 after buying an additional 613 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Thermon Group Stock Performance

Shares of NYSE THR opened at $31.75 on Wednesday. The company has a market capitalization of $1.07 billion, a PE ratio of 24.80 and a beta of 1.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80. The company’s fifty day moving average price is $28.92 and its 200 day moving average price is $30.26. Thermon Group Holdings, Inc. has a 1 year low of $23.76 and a 1 year high of $35.93.

Thermon Group (NYSE:THR) last posted its earnings results on Thursday, November 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%. The business had revenue of $114.60 million for the quarter, compared to analyst estimates of $116.19 million. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, research analysts predict that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Thermon Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th.

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.