WCM Investment Management LLC Purchases 221,819 Shares of Thermon Group Holdings Inc (NYSE:THR)

WCM Investment Management LLC raised its stake in shares of Thermon Group Holdings Inc (NYSE:THR) by 68.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 543,728 shares of the technology company’s stock after acquiring an additional 221,819 shares during the period. WCM Investment Management LLC owned approximately 1.67% of Thermon Group worth $13,327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jennison Associates LLC raised its position in shares of Thermon Group by 22.1% during the first quarter. Jennison Associates LLC now owns 533,588 shares of the technology company’s stock valued at $13,078,000 after buying an additional 96,456 shares during the last quarter. Manchester Capital Management LLC bought a new stake in Thermon Group in the first quarter valued at about $36,000. Stephens Inc. AR bought a new stake in Thermon Group in the first quarter valued at about $263,000. State Board of Administration of Florida Retirement System increased its stake in Thermon Group by 12.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 23,200 shares of the technology company’s stock valued at $569,000 after acquiring an additional 2,560 shares during the period. Finally, Albert D Mason Inc. bought a new stake in Thermon Group in the first quarter valued at about $210,000.

In related news, SVP Der Salm Johannes Rene Van sold 8,716 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $23.90, for a total value of $208,312.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

THR has been the topic of a number of analyst reports. TheStreet raised shares of Thermon Group from a “c+” rating to a “b+” rating in a research note on Monday, March 4th. ValuEngine raised shares of Thermon Group from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, Zacks Investment Research raised shares of Thermon Group from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $28.00.

Shares of THR traded up $0.14 during mid-day trading on Friday, hitting $25.65. 420,000 shares of the company traded hands, compared to its average volume of 113,669. Thermon Group Holdings Inc has a one year low of $18.37 and a one year high of $27.95. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.28 and a quick ratio of 2.39. The business has a 50-day simple moving average of $24.36. The stock has a market capitalization of $830.27 million, a PE ratio of 21.55 and a beta of 1.41.

Thermon Group (NYSE:THR) last announced its quarterly earnings data on Thursday, June 6th. The technology company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.01). Thermon Group had a net margin of 5.51% and a return on equity of 11.46%. The business had revenue of $114.20 million during the quarter, compared to analyst estimates of $101.74 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, analysts anticipate that Thermon Group Holdings Inc will post 1.37 EPS for the current year.

Thermon Group Company Profile

Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.

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Institutional Ownership by Quarter for Thermon Group (NYSE:THR)

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