Millennium Management LLC increased its stake in shares of Thermon Group Holdings Inc (NYSE:THR) by 540.3% in the second quarter, HoldingsChannel.com reports. The firm owned 278,719 shares of the technology company’s stock after buying an additional 235,188 shares during the period. Millennium Management LLC’s holdings in Thermon Group were worth $6,374,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Thermon Group during the 1st quarter worth approximately $136,000. Nisa Investment Advisors LLC purchased a new position in shares of Thermon Group during the 2nd quarter worth approximately $235,000. Brown Advisory Inc. purchased a new position in shares of Thermon Group during the 1st quarter worth approximately $287,000. Victory Capital Management Inc. boosted its position in shares of Thermon Group by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 16,837 shares of the technology company’s stock worth $385,000 after purchasing an additional 2,309 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Thermon Group by 162.7% during the 1st quarter. JPMorgan Chase & Co. now owns 18,267 shares of the technology company’s stock worth $409,000 after purchasing an additional 11,314 shares during the period.

A number of equities research analysts have issued reports on THR shares. Zacks Investment Research upgraded shares of Thermon Group from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Tuesday, August 7th. SunTrust Banks reiterated a “hold” rating and set a $26.00 target price on shares of Thermon Group in a report on Tuesday, August 7th. Finally, BMO Capital Markets increased their target price on shares of Thermon Group from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Thermon Group has an average rating of “Buy” and a consensus target price of $28.50.

Thermon Group stock opened at $24.08 on Friday. The company has a market cap of $839.41 million, a price-to-earnings ratio of 24.32 and a beta of 1.09. Thermon Group Holdings Inc has a 52-week low of $20.52 and a 52-week high of $27.95. The company has a current ratio of 3.93, a quick ratio of 2.66 and a debt-to-equity ratio of 0.64.

Thermon Group (NYSE:THR) last released its earnings results on Wednesday, August 1st. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.10. The company had revenue of $88.90 million for the quarter, compared to analyst estimates of $78.65 million. Thermon Group had a net margin of 4.19% and a return on equity of 9.55%. The firm’s quarterly revenue was up 71.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. Equities analysts expect that Thermon Group Holdings Inc will post 1.3 earnings per share for the current fiscal year.

Thermon Group 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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