Russell Investments Group Ltd. Decreases Holdings in Thermon Group Holdings, Inc. (NYSE:THR)

Russell Investments Group Ltd. decreased its holdings in Thermon Group Holdings, Inc. (NYSE:THRGet Rating) by 13.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 105,214 shares of the technology company’s stock after selling 15,945 shares during the period. Russell Investments Group Ltd. owned approximately 0.32% of Thermon Group worth $1,703,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Alpha Paradigm Partners LLC grew its position in Thermon Group by 20.5% in the fourth quarter. Alpha Paradigm Partners LLC now owns 16,230 shares of the technology company’s stock worth $275,000 after acquiring an additional 2,760 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Thermon Group by 112.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,200 shares of the technology company’s stock worth $100,000 after buying an additional 3,286 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Thermon Group by 54.3% during the fourth quarter. BNP Paribas Arbitrage SA now owns 14,632 shares of the technology company’s stock worth $248,000 after buying an additional 5,148 shares during the period. GSA Capital Partners LLP boosted its position in shares of Thermon Group by 8.8% during the fourth quarter. GSA Capital Partners LLP now owns 67,920 shares of the technology company’s stock worth $1,150,000 after buying an additional 5,477 shares during the period. Finally, Confluence Investment Management LLC boosted its position in shares of Thermon Group by 3.0% during the first quarter. Confluence Investment Management LLC now owns 321,824 shares of the technology company’s stock worth $5,214,000 after buying an additional 9,395 shares during the period. 93.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Thermon Group

In other news, CEO Bruce Thames bought 3,150 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were acquired at an average price of $15.49 per share, for a total transaction of $48,793.50. Following the completion of the transaction, the chief executive officer now owns 209,267 shares of the company’s stock, valued at $3,241,545.83. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director John T. Nesser III purchased 3,500 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was acquired at an average price of $16.35 per share, for a total transaction of $57,225.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $817,500. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bruce Thames purchased 3,150 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were bought at an average price of $15.49 per share, with a total value of $48,793.50. Following the purchase, the chief executive officer now directly owns 209,267 shares of the company’s stock, valued at $3,241,545.83. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 11,867 shares of company stock worth $186,906. Corporate insiders own 1.30% of the company’s stock.

Thermon Group Stock Up 0.1 %

Thermon Group stock opened at $19.22 on Wednesday. Thermon Group Holdings, Inc. has a 1-year low of $13.26 and a 1-year high of $20.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.20 and a quick ratio of 1.43. The stock has a market cap of $643.39 million, a PE ratio of 24.03 and a beta of 1.34. The stock’s fifty day moving average is $15.39 and its two-hundred day moving average is $16.08.

Thermon Group (NYSE:THRGet Rating) last posted its quarterly earnings results on Thursday, May 26th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Thermon Group had a return on equity of 8.98% and a net margin of 7.10%. The company had revenue of $102.58 million for the quarter, compared to analysts’ expectations of $93.12 million. During the same period last year, the firm earned $0.03 earnings per share. On average, sell-side analysts expect that Thermon Group Holdings, Inc. will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on THR. StockNews.com upgraded Thermon Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 15th. TheStreet cut Thermon Group from a “b-” rating to a “c” rating in a research note on Monday, June 6th.

Thermon Group Profile

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Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries worldwide. Its products include electric heating products, such as air heaters and heating accessories, boilers and calorifiers, controlling and monitoring solutions, heat tracing systems, tank heating systems, thermostats, tubing bundles, and system accessories, as well as strip, tubular, immersion, and process heaters; and gas heating products, including enclosure and explosion proof gas catalytic heaters, gas fired blowers, and gas heating accessories that comprise regulators, valves, mounting brackets, and battery cables.

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