Diamond Hill Capital Management Inc. Has $1.15 Million Stock Position in Thermon Group Holdings, Inc. (NYSE:THR)

Diamond Hill Capital Management Inc. reduced its position in Thermon Group Holdings, Inc. (NYSE:THR) by 19.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 38,626 shares of the technology company’s stock after selling 9,458 shares during the period. Diamond Hill Capital Management Inc. owned 0.11% of Thermon Group worth $1,153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in THR. Quest Partners LLC boosted its position 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 worth $33,000 after purchasing an additional 1,045 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Thermon Group in the 2nd quarter worth $40,000. Meeder Asset Management Inc. bought a new position in shares of Thermon Group in the 2nd quarter worth $60,000. EntryPoint Capital LLC boosted its position in shares of Thermon Group by 421.1% in the 1st quarter. EntryPoint Capital LLC now owns 6,331 shares of the technology company’s stock worth $207,000 after purchasing an additional 5,116 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Thermon Group by 9.8% in the 2nd quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock worth $210,000 after purchasing an additional 608 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Thermon Group Stock Performance

THR stock opened at $29.44 on Tuesday. The business’s 50-day moving average price is $28.45 and its two-hundred day moving average price is $30.42. The company has a current ratio of 2.61, a quick ratio of 1.73 and a debt-to-equity ratio of 0.31. The firm has a market cap of $995.13 million, a PE ratio of 23.00 and a beta of 1.07. 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 for the quarter, topping the consensus estimate of $0.35 by $0.03. The firm had revenue of $114.60 million for the quarter, compared to analyst estimates of $116.19 million. Thermon Group had a return on equity of 12.19% and a net margin of 8.89%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. As a group, research analysts forecast that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current year.

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.