New South Capital Management Inc. Lowers Stake in Thermon Group Holdings, Inc. (NYSE:THR)

New South Capital Management Inc. reduced its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 664,875 shares of the technology company’s stock after selling 49,488 shares during the quarter. New South Capital Management Inc. owned approximately 1.97% of Thermon Group worth $19,128,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. FMR LLC lifted its stake in Thermon Group by 10.0% in the third quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock worth $65,239,000 after acquiring an additional 198,642 shares during the period. Wellington Management Group LLP lifted its stake in Thermon Group by 15.5% in the third quarter. Wellington Management Group LLP now owns 1,324,609 shares of the technology company’s stock worth $39,526,000 after acquiring an additional 178,017 shares during the period. Lightrock Netherlands B.V. purchased a new stake in Thermon Group in the fourth quarter worth about $4,995,000. Needham Investment Management LLC lifted its stake in Thermon Group by 21.5% in the third quarter. Needham Investment Management LLC now owns 650,000 shares of the technology company’s stock worth $19,396,000 after acquiring an additional 115,000 shares during the period. Finally, 272 Capital LP purchased a new stake in Thermon Group in the third quarter worth about $3,173,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP David Buntin sold 28,137 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $32.15, for a total transaction of $904,604.55. Following the transaction, the senior vice president now owns 57,773 shares in the company, valued at $1,857,401.95. This represents a 32.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Thermon Group Stock Performance

Shares of Thermon Group stock opened at $28.15 on Thursday. The company has a market capitalization of $948.47 million, a PE ratio of 20.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56. The company has a 50-day simple moving average of $28.85 and a two-hundred day simple moving average of $29.30. Thermon Group Holdings, Inc. has a one year low of $25.76 and a one year high of $35.93.

Thermon Group (NYSE:THR) last announced its earnings results on Thursday, February 6th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. Research analysts expect that Thermon Group Holdings, Inc. will post 1.88 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.