Bank of New York Mellon Corp Cuts Stock Holdings in Thermon Group Holdings, Inc. (NYSE:THR)

Bank of New York Mellon Corp lowered its stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) by 2.2% during the fourth quarter, Holdings Channel reports. The fund owned 109,267 shares of the technology company’s stock after selling 2,453 shares during the period. Bank of New York Mellon Corp’s holdings in Thermon Group were worth $3,144,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of THR. Principal Financial Group Inc. purchased a new stake in shares of Thermon Group during the third quarter worth $481,000. Victory Capital Management Inc. increased its position in shares of Thermon Group by 11.1% during the third quarter. Victory Capital Management Inc. now owns 40,000 shares of the technology company’s stock worth $1,194,000 after acquiring an additional 4,000 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Thermon Group by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 381,428 shares of the technology company’s stock worth $11,382,000 after acquiring an additional 19,083 shares during the period. Algert Global LLC increased its holdings in Thermon Group by 56.2% in the third quarter. Algert Global LLC now owns 47,607 shares of the technology company’s stock valued at $1,421,000 after buying an additional 17,124 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Thermon Group by 1.8% in the third quarter. D.A. Davidson & CO. now owns 29,282 shares of the technology company’s stock valued at $874,000 after buying an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Thermon Group Price Performance

Shares of THR opened at $29.96 on Thursday. Thermon Group Holdings, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $35.93. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.03 and a beta of 0.98. The firm has a 50-day simple moving average of $28.88 and a 200-day simple moving average of $29.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56.

Thermon Group (NYSE:THR) last announced its earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. On average, equities research analysts anticipate that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.