Bank of New York Mellon Corp Has $42.88 Million Stake in Thor Industries, Inc. (NYSE:THO)

Bank of New York Mellon Corp decreased its holdings in Thor Industries, Inc. (NYSE:THO - Free Report) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 565,674 shares of the construction company's stock after selling 15,323 shares during the period. Bank of New York Mellon Corp owned about 1.06% of Thor Industries worth $42,884,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in THO. Proficio Capital Partners LLC bought a new stake in Thor Industries in the 4th quarter valued at $58,000. Amundi increased its holdings in shares of Thor Industries by 26.2% in the fourth quarter. Amundi now owns 4,354 shares of the construction company's stock valued at $415,000 after purchasing an additional 905 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Thor Industries by 14.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,590 shares of the construction company's stock valued at $1,301,000 after purchasing an additional 1,706 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of Thor Industries during the 4th quarter worth about $1,006,000. Finally, Atala Financial Inc bought a new stake in shares of Thor Industries during the 4th quarter worth about $27,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thor Industries

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

Thor Industries Price Performance

NYSE THO traded down $1.01 during midday trading on Monday, hitting $92.22. The company had a trading volume of 380,182 shares, compared to its average volume of 795,916. The company has a market capitalization of $4.91 billion, a PE ratio of 22.11, a P/E/G ratio of 1.92 and a beta of 1.21. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $84.98 and a 200-day moving average price of $86.92. Thor Industries, Inc. has a twelve month low of $63.15 and a twelve month high of $118.85.

Thor Industries (NYSE:THO - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.74. The company had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.60 billion. Thor Industries had a return on equity of 6.15% and a net margin of 2.32%. Thor Industries's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $2.13 earnings per share. As a group, analysts anticipate that Thor Industries, Inc. will post 4.64 earnings per share for the current fiscal year.

Thor Industries announced that its Board of Directors has authorized a share buyback plan on Monday, June 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Thor Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, July 1st. Thor Industries's payout ratio is presently 47.96%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on THO shares. KeyCorp increased their price target on shares of Thor Industries from $60.00 to $65.00 and gave the company an "underweight" rating in a report on Friday, May 30th. Wall Street Zen raised Thor Industries from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Citigroup cut Thor Industries from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $94.00 to $86.00 in a report on Wednesday, March 19th. DA Davidson upgraded Thor Industries to a "hold" rating in a research note on Monday, April 14th. Finally, Roth Capital set a $77.00 price objective on Thor Industries and gave the stock a "neutral" rating in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Thor Industries presently has a consensus rating of "Hold" and a consensus price target of $87.63.

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.