Principal Financial Group Inc. Makes New $481,000 Investment in Thermon Group Holdings, Inc. (NYSE:THR)

Principal Financial Group Inc. purchased a new position in shares of Thermon Group Holdings, Inc. (NYSE:THR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,125 shares of the technology company’s stock, valued at approximately $481,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Thermon Group by 10.0% during the 3rd quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock worth $65,239,000 after purchasing an additional 198,642 shares during the last quarter. Wellington Management Group LLP increased its position in Thermon Group by 15.5% during 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. Geode Capital Management LLC raised its stake in Thermon Group by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 772,597 shares of the technology company’s stock valued at $23,059,000 after purchasing an additional 8,910 shares during the last quarter. State Street Corp boosted its holdings in Thermon Group by 0.8% in the 3rd quarter. State Street Corp now owns 769,187 shares of the technology company’s stock valued at $22,953,000 after purchasing an additional 5,882 shares during the period. Finally, Needham Investment Management LLC increased its holdings in shares of Thermon Group by 21.5% during the 3rd quarter. Needham Investment Management LLC now owns 650,000 shares of the technology company’s stock worth $19,396,000 after purchasing an additional 115,000 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Thermon Group

In related news, SVP David Buntin sold 28,137 shares of Thermon Group stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $32.15, for a total value of $904,604.55. Following the sale, the senior vice president now owns 57,773 shares of the company’s stock, valued at approximately $1,857,401.95. The trade was a 32.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Thermon Group Trading Up 2.8 %

THR opened at $29.31 on Monday. The firm has a 50 day simple moving average of $29.87 and a 200 day simple moving average of $29.81. 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 market cap of $987.31 million, a price-to-earnings ratio of 22.90 and a beta of 1.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85.

Thermon Group (NYSE:THR) last issued its earnings results on Thursday, November 7th. The technology company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. The firm had revenue of $114.60 million during the quarter, compared to the consensus estimate of $116.19 million. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 earnings per share. On average, sell-side analysts anticipate 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.