75,287 Shares in Thor Industries, Inc. $THO Purchased by Legal & General Group Plc

Key Points

• Legal & General Group Plc purchased 75,287 shares of Thor Industries in the second quarter, valued at approximately $5.66 million, while institutional investors collectively own 96.71% of the company.
• Thor Industries reported quarterly revenue of $2.78 billion, exceeding estimates, but earnings of $1.86 per share slightly missed expectations and revenue fell 3.9% year over year.
• Analysts largely maintain a “Hold” view, with an average price target of $92.33 versus the stock’s recent price of $75.68; the company also pays a $0.52 quarterly dividend, yielding about 2.7%.

Legal & General Group Plc bought a new stake in shares of Thor Industries, Inc. (NYSE:THO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 75,287 shares of the RV manufacturer's stock, valued at approximately $5,659,000. Legal & General Group Plc owned approximately 0.14% of Thor Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in THO. The Manufacturers Life Insurance Company purchased a new stake in shares of Thor Industries in the 2nd quarter worth approximately $2,590,000. Hyperion Capital Advisors LP bought a new position in shares of Thor Industries during the second quarter valued at $765,000. Cibc World Market Inc. purchased a new position in shares of Thor Industries in the 2nd quarter worth about $1,311,000. Sanctuary Advisors LLC bought a new position in Thor Industries in the 2nd quarter worth about $798,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Thor Industries in the 2nd quarter worth about $257,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Thor Industries Stock Performance

Shares of NYSE THO opened at $75.68 on Friday. The firm's 50-day moving average price is $76.94 and its 200-day moving average price is $80.15. The company has a quick ratio of 0.80, a current ratio of 1.71 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.94 billion, a PE ratio of 32.76, a PEG ratio of 1.66 and a beta of 1.34. Thor Industries, Inc. has a 52-week low of $69.71 and a 52-week high of $122.83.

Thor Industries (NYSE:THO - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The RV manufacturer reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.02). Thor Industries had a net margin of 2.67% and a return on equity of 5.74%. The company had revenue of $2.78 billion for the quarter, compared to analysts' expectations of $2.67 billion. During the same period in the previous year, the firm earned $2.53 earnings per share. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. As a group, analysts anticipate that Thor Industries, Inc. will post 3.21 EPS for the current year.

Thor Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.52 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. Thor Industries's payout ratio is currently 90.04%.

Analysts Set New Price Targets

A number of analysts have weighed in on THO shares. Truist Financial reduced their price objective on shares of Thor Industries from $109.00 to $80.00 and set a "hold" rating for the company in a research note on Wednesday, July 8th. Roth Capital set a $78.00 price target on shares of Thor Industries in a report on Thursday, June 4th. BMO Capital Markets reduced their price target on shares of Thor Industries from $120.00 to $110.00 and set an "outperform" rating for the company in a research report on Thursday, June 4th. DA Davidson decreased their price objective on shares of Thor Industries from $100.00 to $80.00 and set a "neutral" rating for the company in a report on Monday, June 15th. Finally, Argus upgraded Thor Industries to a "hold" rating in a research note on Friday, June 12th. Three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $92.33.

Thor Industries Company Profile

Thor Industries, Inc is a leading manufacturer of recreational vehicles (RVs) and related components for the leisure travel market. Through its family of well-known brands—such as Airstream, Heartland, Jayco, Keystone RV and Thor Motor Coach—the company designs, manufactures and sells a broad range of motorized and towable RVs, complemented by aftermarket parts and service solutions. Thor offers products that span travel trailers, fifth wheels, toy haulers and Class A, B and C motorhomes, addressing both entry-level and premium segments.

Founded in 1980 when Wade Thompson and Peter Orthwein acquired Airstream from Beatrice Foods, Thor Industries has grown organically and through strategic acquisitions to become one of the largest RV producers in the world.

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