Callan Family Office LLC Purchases New Stake in Thor Industries, Inc. $THO

Key Points

• Callan Family Office LLC acquired a new stake in Thor Industries by purchasing 5,936 shares valued at approximately $527,000.
• Thor Industries announced a share buyback plan allowing for the repurchase of $400 million in outstanding shares, alongside increasing its quarterly dividend from $0.50 to $0.52.
• Analysts have mixed opinions on Thor Industries, with Bank of America raising its target price from $100 to $120 while others maintain a hold rating with a consensus price target of $104.

Callan Family Office LLC purchased a new stake in Thor Industries, Inc. (NYSE:THO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,936 shares of the RV manufacturer's stock, valued at approximately $527,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Thor Industries by 0.6% in the first quarter. Principal Financial Group Inc. now owns 122,374 shares of the RV manufacturer's stock valued at $9,277,000 after purchasing an additional 755 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Thor Industries by 4.2% in the first quarter. Crossmark Global Holdings Inc. now owns 3,560 shares of the RV manufacturer's stock valued at $270,000 after purchasing an additional 145 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Thor Industries by 7.5% in the first quarter. Oppenheimer & Co. Inc. now owns 3,281 shares of the RV manufacturer's stock valued at $249,000 after purchasing an additional 228 shares in the last quarter. QRG Capital Management Inc. raised its stake in Thor Industries by 33.5% in the first quarter. QRG Capital Management Inc. now owns 20,453 shares of the RV manufacturer's stock valued at $1,551,000 after purchasing an additional 5,136 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Thor Industries by 6.0% in the first quarter. Teacher Retirement System of Texas now owns 13,211 shares of the RV manufacturer's stock valued at $1,002,000 after purchasing an additional 749 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

Thor Industries Stock Up 4.1%

Thor Industries stock opened at $105.21 on Wednesday. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.75 and a beta of 1.35. Thor Industries, Inc. has a 52-week low of $63.15 and a 52-week high of $118.85. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.90 and a current ratio of 1.75. The firm has a 50 day moving average price of $105.69 and a two-hundred day moving average price of $90.53.

Thor Industries announced that its board has approved a share buyback plan on Monday, June 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the RV manufacturer to repurchase 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 23rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Thor Industries's previous quarterly dividend of $0.50. Thor Industries's payout ratio is currently 47.96%.

Analyst Ratings Changes

Several research analysts have commented on the company. Bank of America boosted their target price on Thor Industries from $100.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. KeyCorp raised Thor Industries from an "underweight" rating to a "sector weight" rating in a research note on Friday, August 1st. Truist Financial lowered their target price on Thor Industries from $115.00 to $110.00 and set a "hold" rating for the company in a research note on Thursday, October 9th. Zacks Research raised Thor Industries from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Thor Industries in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, Thor Industries has a consensus rating of "Hold" and an average 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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