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

Bank of New York Mellon Corp trimmed its position in Thor Industries, Inc. (NYSE:THO - Free Report) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 1.06% of Thor Industries worth $42,884,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of Thor Industries by 0.6% in the first quarter. Principal Financial Group Inc. now owns 122,374 shares of the construction company's stock valued at $9,277,000 after purchasing an additional 755 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Thor Industries by 7.5% during the first quarter. Oppenheimer & Co. Inc. now owns 3,281 shares of the construction company's stock worth $249,000 after acquiring an additional 228 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Thor Industries by 33.5% during the first quarter. QRG Capital Management Inc. now owns 20,453 shares of the construction company's stock worth $1,551,000 after acquiring an additional 5,136 shares in the last quarter. Amundi raised its holdings in Thor Industries by 26.2% during the fourth quarter. Amundi now owns 4,354 shares of the construction company's stock worth $415,000 after acquiring an additional 905 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Thor Industries by 6.0% during the first quarter. Teacher Retirement System of Texas now owns 13,211 shares of the construction company's stock worth $1,002,000 after acquiring an additional 749 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on THO. Baird R W lowered Thor Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Wall Street Zen upgraded Thor Industries from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Citigroup lowered Thor Industries from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $94.00 to $86.00 in a report on Wednesday, March 19th. Roth Capital set a $77.00 target price on Thor Industries and gave the stock a "neutral" rating in a report on Monday, June 9th. Finally, KeyCorp upped their target price on Thor Industries from $60.00 to $65.00 and gave the stock an "underweight" rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Thor Industries has a consensus rating of "Hold" and a consensus price target of $87.63.

Insider Activity at Thor Industries

In other news, Director Peter Busch Orthwein bought 3,000 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were bought at an average price of $85.40 per share, with a total value of $256,200.00. Following the completion of the transaction, the director owned 136,400 shares of the company's stock, valued at $11,648,560. This trade represents a 2.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.50% of the company's stock.

Thor Industries Stock Performance

Shares of Thor Industries stock traded up $0.99 on Thursday, hitting $89.75. The stock had a trading volume of 545,989 shares, compared to its average volume of 672,967. Thor Industries, Inc. has a twelve month low of $63.16 and a twelve month high of $118.85. The business's 50 day moving average is $86.20 and its two-hundred day moving average is $86.90. The company has a quick ratio of 0.90, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.86 and a beta of 1.21.

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

Thor Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Tuesday, July 1st. Thor Industries's payout ratio is 47.96%.

Thor Industries announced that its Board of Directors has initiated a share buyback program on Monday, June 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 8.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

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.