Congress Asset Management Co. Invests $227,000 in Thermon Group Holdings, Inc. (NYSE:THR)

Congress Asset Management Co. bought a new stake in shares of Thermon Group Holdings, Inc. (NYSE:THR) in the 4th quarter, Holdings Channel.com reports. The firm bought 7,895 shares of the technology company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new position in shares of Thermon Group during the 3rd quarter worth $481,000. Jacobs Levy Equity Management Inc. grew its holdings in Thermon Group by 8.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 18,715 shares of the technology company’s stock valued at $558,000 after purchasing an additional 1,529 shares during the period. Franklin Resources Inc. increased its position in Thermon Group by 2.1% in the third quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock worth $595,000 after buying an additional 422 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Thermon Group by 131.6% in the third quarter. Harbor Capital Advisors Inc. now owns 23,232 shares of the technology company’s stock worth $693,000 after buying an additional 13,199 shares during the period. Finally, D.A. Davidson & CO. lifted its position in shares of Thermon Group by 1.8% during the 3rd 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 in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Thermon Group from a “buy” rating to a “strong-buy” rating in a report on Friday, February 7th.

Thermon Group Trading Down 0.2 %

Shares of Thermon Group stock opened at $29.76 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80. The company has a fifty day moving average of $29.08 and a 200 day moving average of $29.29. The company has a market capitalization of $1.00 billion, a P/E ratio of 21.88 and a beta of 1.10. Thermon Group Holdings, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $35.93.

Thermon Group (NYSE:THR) last released its earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 11.77% and a net margin of 9.48%. On average, sell-side analysts anticipate that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current fiscal year.

Insider Transactions at Thermon Group

In other Thermon Group news, SVP David Buntin sold 28,137 shares of Thermon Group stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $32.15, for a total value of $904,604.55. Following the sale, the senior vice president now directly owns 57,773 shares in the company, valued at approximately $1,857,401.95. The trade was a 32.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.40% of the company’s stock.

Thermon Group 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.