Bank of America Corp DE Reduces Stock Position in THOR Industries, Inc. (NYSE:THO)

Bank of America Corp DE trimmed its position in shares of THOR Industries, Inc. (NYSE:THO - Free Report) by 49.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,829 shares of the construction company's stock after selling 26,699 shares during the period. Bank of America Corp DE owned about 0.05% of THOR Industries worth $2,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Madison Investment Advisors LLC bought a new position in THOR Industries in the fourth quarter worth about $95,688,000. ACR Alpine Capital Research LLC raised its stake in THOR Industries by 40.6% in the fourth quarter. ACR Alpine Capital Research LLC now owns 2,142,966 shares of the construction company's stock worth $205,103,000 after buying an additional 619,318 shares in the last quarter. Norges Bank bought a new position in THOR Industries in the fourth quarter worth about $54,754,000. Raymond James Financial Inc. bought a new position in THOR Industries in the fourth quarter worth about $52,497,000. Finally, Timucuan Asset Management Inc. FL raised its stake in THOR Industries by 16.2% in the fourth quarter. Timucuan Asset Management Inc. FL now owns 2,038,765 shares of the construction company's stock worth $195,130,000 after buying an additional 283,744 shares in the last quarter. 96.71% of the stock is owned by institutional investors.

THOR Industries Stock Up 0.1%

Shares of NYSE:THO traded up $0.09 during trading on Thursday, reaching $86.00. 1,213,234 shares of the stock traded hands, compared to its average volume of 658,996. The stock has a 50-day moving average of $75.66 and a two-hundred day moving average of $90.03. THOR Industries, Inc. has a 52-week low of $63.16 and a 52-week high of $118.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.78 and a current ratio of 1.71. The stock has a market cap of $4.58 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 1.16 and a beta of 1.26.

THOR Industries (NYSE:THO - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.74. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The firm had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter in the prior year, the company posted $2.13 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that THOR Industries, Inc. will post 4.64 earnings per share for the current fiscal year.

THOR Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Tuesday, April 8th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Tuesday, April 8th. THOR Industries's payout ratio is 53.05%.

Wall Street Analysts Forecast Growth

THO has been the subject of a number of research reports. Robert W. Baird downgraded shares of THOR Industries from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $100.00 to $85.00 in a research note on Friday, April 4th. Bank of America raised shares of THOR Industries from a "neutral" rating to a "buy" rating and raised their target price for the company from $110.00 to $125.00 in a research note on Monday, March 3rd. Citigroup downgraded shares of THOR Industries from a "buy" rating to a "neutral" rating and decreased their target price for the company from $94.00 to $86.00 in a research note on Wednesday, March 19th. DA Davidson raised shares of THOR Industries to a "hold" rating in a research note on Monday, April 14th. Finally, BMO Capital Markets decreased their target price on shares of THOR Industries from $120.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, THOR Industries has a consensus rating of "Hold" and a consensus target price of $89.14.

About THOR Industries

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.