Carnegie Investment Counsel Invests $8.51 Million in Thor Industries, Inc. (NYSE:THO)

Key Points

• Carnegie Investment Counsel has acquired 112,226 shares of Thor Industries, valued at approximately $8.5 million, representing 0.21% ownership as of the latest SEC filing.
• Thor Industries reported a Q2 EPS of $2.53, beating estimates by $0.74, and showed a year-over-year revenue increase of 3.3% to $2.89 billion.
• The company has authorized a $400 million share buyback program, indicating a belief that its shares may be undervalued.

Carnegie Investment Counsel bought a new stake in Thor Industries, Inc. (NYSE:THO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 112,226 shares of the construction company's stock, valued at approximately $8,508,000. Carnegie Investment Counsel owned 0.21% of Thor Industries at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of THO. Brown Brothers Harriman & Co. increased its stake in Thor Industries by 369.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 418 shares of the construction company's stock valued at $40,000 after buying an additional 329 shares during the period. UMB Bank n.a. increased its stake in Thor Industries by 135.6% in the 1st quarter. UMB Bank n.a. now owns 483 shares of the construction company's stock valued at $37,000 after buying an additional 278 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Thor Industries by 96.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 805 shares of the construction company's stock valued at $61,000 after buying an additional 395 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Thor Industries in the 4th quarter valued at $201,000. Finally, Oxford Asset Management LLP acquired a new position in Thor Industries in the 4th quarter valued at $217,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Thor Industries

In related news, Director Peter Busch Orthwein bought 3,000 shares of Thor Industries stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average cost of $85.40 per share, for a total transaction of $256,200.00. Following the acquisition, the director owned 136,400 shares in the company, valued at $11,648,560. This trade represents a 2.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. KeyCorp upped their price target on shares of Thor Industries from $60.00 to $65.00 and gave the stock an "underweight" rating in a research note on Friday, May 30th. Baird R W cut shares of Thor Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Roth Capital set a $77.00 price target on shares of Thor Industries and gave the stock a "neutral" rating in a research note on Monday, June 9th. DA Davidson upgraded shares of Thor Industries to a "hold" rating in a research report on Monday, April 14th. Finally, Wall Street Zen upgraded shares of Thor Industries from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $87.63.

Thor Industries Price Performance

THO traded up $0.40 on Monday, reaching $95.76. The company had a trading volume of 89,685 shares, compared to its average volume of 774,727. The company has a fifty day moving average of $87.70 and a 200-day moving average of $86.68. The company has a market capitalization of $5.09 billion, a P/E ratio of 22.94, a PEG ratio of 1.97 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. Thor Industries, Inc. has a one year low of $63.15 and a one year 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 the consensus estimate of $1.79 by $0.74. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. The firm had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same period in the previous year, the business earned $2.13 earnings per share. Thor Industries's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Thor Industries, Inc. will post 4.64 earnings per share for the current year.

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

Thor Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 2.09%. Thor Industries's dividend payout ratio (DPR) is presently 47.96%.

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.