1060 Capital LLC Makes New $4.55 Million Investment in Thor Industries, Inc. $THO

Key Points

• 1060 Capital LLC made a significant investment of $4.55 million in Thor Industries, Inc. (NYSE:THO), purchasing 60,000 shares, which now represent 10.3% of its portfolio.
• Thor Industries is experiencing interest from institutional investors, with notable increases in holdings from UMB Bank and Smartleaf Asset Management, among others, resulting in approximately 96.71% of the stock being owned by institutional investors.
• Wall Street analysts have a mixed outlook on Thor Industries, with ratings ranging from "underweight" to "buy" and an average target price of $94.00 for the stock.

1060 Capital LLC purchased a new stake in Thor Industries, Inc. (NYSE:THO - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 60,000 shares of the construction company's stock, valued at approximately $4,549,000. Thor Industries comprises 10.3% of 1060 Capital LLC's portfolio, making the stock its 5th biggest position. 1060 Capital LLC owned approximately 0.11% of Thor Industries as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. UMB Bank n.a. increased its holdings in shares of Thor Industries by 135.6% in the 1st quarter. UMB Bank n.a. now owns 483 shares of the construction company's stock valued at $37,000 after acquiring an additional 278 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Thor Industries by 336.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 785 shares of the construction company's stock valued at $61,000 after acquiring an additional 605 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Thor Industries by 96.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 805 shares of the construction company's stock valued at $61,000 after acquiring an additional 395 shares during the last quarter. Quarry LP bought a new stake in shares of Thor Industries in the 1st quarter valued at approximately $94,000. Finally, Neo Ivy Capital Management increased its holdings in shares of Thor Industries by 11.7% in the 4th quarter. Neo Ivy Capital Management now owns 2,451 shares of the construction company's stock valued at $234,000 after acquiring an additional 257 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on THO shares. KeyCorp upgraded Thor Industries from an "underweight" rating to a "sector weight" rating in a report on Friday, August 1st. Citigroup reaffirmed a "neutral" rating and set a $100.00 target price (up from $88.00) on shares of Thor Industries in a report on Tuesday, August 12th. Zacks Research raised Thor Industries from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Truist Financial upped their price objective on Thor Industries from $86.00 to $115.00 and gave the stock a "hold" rating in a research note on Wednesday, September 3rd. Finally, Roth Capital set a $77.00 price objective on Thor Industries and gave the stock a "neutral" rating in a research note on Monday, June 9th. Two analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Thor Industries has an average rating of "Hold" and an average target price of $94.00.

Thor Industries Stock Performance

Shares of THO stock opened at $111.78 on Tuesday. Thor Industries, Inc. has a 12-month low of $63.15 and a 12-month high of $118.85. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.34. The business has a 50 day simple moving average of $99.27 and a 200 day simple moving average of $87.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.90.

Thor Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 1st. Thor Industries's dividend payout ratio is 47.96%.

Thor Industries announced that its board has authorized a share repurchase program on Monday, June 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the construction company to purchase up to 8.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Thor Industries

In other Thor Industries news, Director Peter Busch Orthwein acquired 3,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average cost of $85.40 per share, with a total value of $256,200.00. Following the acquisition, the director directly owned 136,400 shares of the company's stock, valued at $11,648,560. This represents a 2.25% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by company insiders.

Thor Industries Company Profile

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.

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