Balyasny Asset Management L.P. Decreases Position in Thermon Group Holdings, Inc. (NYSE:THR)

Balyasny Asset Management L.P. decreased its position in Thermon Group Holdings, Inc. (NYSE:THR) by 55.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,601 shares of the technology company’s stock after selling 13,434 shares during the period. Balyasny Asset Management L.P.’s holdings in Thermon Group were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in THR. Franklin Resources Inc. raised its stake in shares of Thermon Group by 2.1% during the 3rd quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock valued at $595,000 after buying an additional 422 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Thermon Group by 7.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 41,241 shares of the technology company’s stock valued at $1,187,000 after acquiring an additional 2,900 shares during the period. Swedbank AB grew its position in shares of Thermon Group by 1.0% during the 4th quarter. Swedbank AB now owns 621,000 shares of the technology company’s stock valued at $17,866,000 after acquiring an additional 6,000 shares during the period. Lightrock Netherlands B.V. acquired a new stake in Thermon Group in the 4th quarter worth about $4,995,000. Finally, Congress Asset Management Co. acquired a new stake in Thermon Group in the 4th quarter worth about $227,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Thermon Group Trading Down 0.6%

THR opened at $30.12 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71. The company’s 50 day simple moving average is $27.33 and its two-hundred day simple moving average is $28.71. Thermon Group Holdings, Inc. has a 1-year low of $23.05 and a 1-year high of $35.93. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.15 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Thermon Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th.

About Thermon Group

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.