Thermon Group Holdings, Inc. (NYSE:THR) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 381,428 shares of the technology company’s stock after acquiring an additional 19,083 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Thermon Group were worth $11,382,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quest Partners LLC increased 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 acquiring an additional 1,045 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Thermon Group during the second quarter valued at $40,000. Meeder Asset Management Inc. acquired a new stake in shares of Thermon Group during the second quarter worth $60,000. QRG Capital Management Inc. raised its stake in Thermon Group by 9.8% during the second 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 period. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Thermon Group by 9.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,017 shares of the technology company’s stock valued at $216,000 after purchasing an additional 613 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Thermon Group Stock Down 0.8 %

THR stock opened at $31.70 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 2.80 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $29.34 and its 200 day simple moving average is $30.06. The stock has a market cap of $1.07 billion, a PE ratio of 24.77 and a beta of 1.10. Thermon Group Holdings, Inc. has a fifty-two week low of $23.76 and a fifty-two week high of $35.93.

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 the consensus estimate of $0.35 by $0.03. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%. The business had revenue of $114.60 million during the quarter, compared to the consensus estimate of $116.19 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The business’s revenue was down 7.4% on a year-over-year basis. As a group, sell-side analysts predict that Thermon Group Holdings, Inc. will post 1.79 EPS 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.