Bayforest Capital Ltd Takes Position in Thor Industries, Inc. $THO

Key Points

• Bayforest Capital Ltd acquired a new stake in Thor Industries, Inc., purchasing 6,570 shares valued at approximately $583,000 in the 2nd quarter.
• Thor Industries initiated a $400 million share buyback program to repurchase up to 8.8% of its outstanding shares, reflecting management's belief that the stock is undervalued.
• The company announced a quarterly dividend increase, raising it from $0.50 to $0.52, showing strong shareholder return strategy with a yield of 2.0%.

Bayforest Capital Ltd bought a new stake in shares of Thor Industries, Inc. (NYSE:THO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,570 shares of the RV manufacturer's stock, valued at approximately $583,000.

Several other large investors also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. grew its stake in shares of Thor Industries by 85.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,085 shares of the RV manufacturer's stock valued at $1,251,000 after acquiring an additional 6,487 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Thor Industries during the second quarter valued at about $204,000. Inspire Investing LLC grew its stake in shares of Thor Industries by 5.9% during the second quarter. Inspire Investing LLC now owns 5,531 shares of the RV manufacturer's stock valued at $491,000 after acquiring an additional 306 shares in the last quarter. Callan Family Office LLC acquired a new stake in shares of Thor Industries during the second quarter valued at about $527,000. Finally, Maryland State Retirement & Pension System acquired a new stake in shares of Thor Industries during the second quarter valued at about $211,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Thor Industries Stock Performance

Shares of NYSE THO opened at $105.21 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.75 and a debt-to-equity ratio of 0.21. The firm's 50-day moving average price is $105.69 and its two-hundred day moving average price is $90.53. Thor Industries, Inc. has a 52-week low of $63.15 and a 52-week high of $118.85. The stock has a market capitalization of $5.54 billion, a P/E ratio of 25.23, a P/E/G ratio of 1.75 and a beta of 1.35.

Thor Industries declared that its Board of Directors has initiated a share buyback program on Monday, June 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the RV manufacturer to buy up to 8.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Thor Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 23rd will be issued a $0.52 dividend. This is an increase from Thor Industries's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, October 23rd. Thor Industries's dividend payout ratio is 49.88%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup reduced their price target on shares of Thor Industries from $122.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 8th. Zacks Research raised shares of Thor Industries from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 3rd. BMO Capital Markets increased their price target on shares of Thor Industries from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, September 26th. Roth Capital set a $93.00 price target on shares of Thor Industries and gave the stock a "neutral" rating in a research report on Wednesday, September 17th. Finally, Bank of America increased their price target on shares of Thor Industries from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $104.00.

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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