Needham Investment Management LLC Purchases 115,000 Shares of Thermon Group Holdings, Inc. (NYSE:THR)

Needham Investment Management LLC increased its position in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 21.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 650,000 shares of the technology company’s stock after buying an additional 115,000 shares during the period. Thermon Group accounts for approximately 1.5% of Needham Investment Management LLC’s investment portfolio, making the stock its 19th biggest position. Needham Investment Management LLC owned approximately 1.93% of Thermon Group worth $19,396,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC raised its holdings in shares of Thermon Group by 2,375.0% in the 2nd quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,045 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Thermon Group during the 2nd quarter worth approximately $40,000. Meeder Asset Management Inc. bought a new position in shares of Thermon Group during the 2nd quarter worth approximately $60,000. QRG Capital Management Inc. increased its holdings 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 worth $210,000 after acquiring an additional 608 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Thermon Group by 9.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock worth $216,000 after buying an additional 613 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analyst Ratings Changes

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

Thermon Group Trading Down 0.5 %

NYSE:THR traded down $0.16 during mid-day trading on Tuesday, hitting $32.00. 18,232 shares of the company’s stock were exchanged, compared to its average volume of 194,484. The company has a current ratio of 2.80, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. Thermon Group Holdings, Inc. has a fifty-two week low of $23.76 and a fifty-two week high of $35.93. The company has a 50 day simple moving average of $29.09 and a 200-day simple moving average of $30.17. The firm has a market capitalization of $1.08 billion, a P/E ratio of 25.14 and a beta of 1.10.

Thermon Group (NYSE:THR) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%. The company had revenue of $114.60 million during the quarter, compared to the consensus estimate of $116.19 million. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue was down 7.4% compared to the same quarter last year. As a group, research analysts expect that Thermon Group Holdings, Inc. will post 1.79 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.