Cornercap Investment Counsel Inc. Buys Shares of 7,660 Thermon Group Holdings, Inc. (NYSE:THR)

Cornercap Investment Counsel Inc. bought a new position in Thermon Group Holdings, Inc. (NYSE:THR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,660 shares of the technology company’s stock, valued at approximately $220,000.

Several other hedge funds have also modified their holdings of the company. Assetmark Inc. bought a new position in shares of Thermon Group during the 4th quarter worth approximately $26,000. Venturi Wealth Management LLC acquired a new position in shares of Thermon Group during the fourth quarter worth $47,000. AlphaQuest LLC lifted its holdings in shares of Thermon Group by 57,825.0% during the 4th quarter. AlphaQuest LLC now owns 2,317 shares of the technology company’s stock valued at $67,000 after purchasing an additional 2,313 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Thermon Group by 4,731.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,865 shares of the technology company’s stock valued at $111,000 after purchasing an additional 3,785 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Thermon Group in the 4th quarter worth $172,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Thermon Group Trading Down 1.8 %

Shares of Thermon Group stock opened at $28.42 on Friday. The firm’s 50 day simple moving average is $29.00 and its two-hundred day simple moving average is $29.24. The firm has a market capitalization of $957.44 million, a price-to-earnings ratio of 20.90 and a beta of 0.98. Thermon Group Holdings, Inc. has a 12-month low of $25.76 and a 12-month high of $35.93. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28.

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, beating the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. Analysts predict that Thermon Group Holdings, Inc. will post 1.88 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut Thermon Group from a “strong-buy” rating to a “buy” rating in a research note 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.