Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of industrial engineering company Thermon Group Holdings Inc (NYSE:THR) popped as much as 12% Tuesday after the company reported better than expected earnings. 

So what: Fiscal third-quarter revenue jumped 23% to $87.6 million and net income was up 24% to $15.6 million, or $0.48 per share. Analysts were only expecting revenue of $78 million and earnings of $0.35 per share, so the company easily topped the bar Wall Street had set.

Now what: Management seemed to be very bullish Tuesday as well, predicting 9%-10% revenue growth for fiscal year 2015 and saying orders placed grew 17% to $81.9 million in the quarter. That bodes well for future operations, and with shares trading at just 15.6 times forward earnings -- before being adjusted for Tuesday's results -- I think the stock presents a strong value. Shares calmed down to just a 6% gain in midday trading, and I think there's plenty of room to move higher given Thermon Group's strong operations and outlook.