CenterBook Partners LP Increases Position in Thor Industries, Inc. (NYSE:THO)

Key Points

• CenterBook Partners LP increased its holdings in Thor Industries by 42.1%, acquiring an additional 6,076 shares and bringing its total ownership to 20,522 shares valued at approximately $1.56 million.
• Thor Industries declared a quarterly dividend of $0.50 per share, reflecting a 2.1% dividend yield and a payout ratio of 47.96%.
• Several analysts have set new target prices for Thor Industries, with Truist Financial raising its target from $72.00 to $78.00 and maintaining a "hold" rating.

CenterBook Partners LP grew its position in shares of Thor Industries, Inc. (NYSE:THO - Free Report) by 42.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,522 shares of the construction company's stock after buying an additional 6,076 shares during the quarter. CenterBook Partners LP's holdings in Thor Industries were worth $1,556,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Thor Industries by 135.6% during the 1st quarter. UMB Bank n.a. now owns 483 shares of the construction company's stock worth $37,000 after buying an additional 278 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of 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 worth $61,000 after purchasing an additional 395 shares during the period. NBC Securities Inc. raised its holdings in shares of Thor Industries by 135,500.0% in the 1st quarter. NBC Securities Inc. now owns 2,712 shares of the construction company's stock worth $205,000 after purchasing an additional 2,710 shares during the period. Oxford Asset Management LLP bought a new stake in shares of Thor Industries in the 4th quarter worth approximately $217,000. Finally, Neo Ivy Capital Management raised its holdings in shares of Thor Industries by 11.7% in the 4th quarter. Neo Ivy Capital Management now owns 2,451 shares of the construction company's stock worth $234,000 after purchasing an additional 257 shares during the period. Institutional investors own 96.71% of the company's stock.

Wall Street Analyst Weigh In

THO has been the topic of a number of research reports. Wall Street Zen raised shares of Thor Industries from a "sell" rating to a "hold" rating in a report on Friday, June 6th. KeyCorp raised shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a report on Friday, August 1st. Roth Capital set a $77.00 price target on shares of Thor Industries and gave the stock a "neutral" rating in a report on Monday, June 9th. DA Davidson raised shares of Thor Industries to a "hold" rating in a report on Monday, April 14th. Finally, Truist Financial lifted their price target on shares of Thor Industries from $72.00 to $78.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $87.63.

Thor Industries Stock Performance

THO stock traded down $0.91 during midday trading on Friday, reaching $94.93. 491,847 shares of the company's stock traded hands, compared to its average volume of 546,506. The company has a 50-day moving average price of $90.25 and a two-hundred day moving average price of $86.46. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.71. Thor Industries, Inc. has a 52 week low of $63.15 and a 52 week high of $118.85. The firm has a market capitalization of $5.05 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.21.

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

Thor Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, July 1st. Thor Industries's payout ratio is 47.96%.

Thor Industries declared that its board has approved a share repurchase plan on Monday, June 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the construction company to repurchase up to 8.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at Thor Industries

In other news, Director Peter Busch Orthwein purchased 3,000 shares of Thor Industries stock in a transaction dated 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 transaction, the director directly owned 136,400 shares of the company's stock, valued at approximately $11,648,560. This trade represents a 2.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.50% of the stock is owned by company insiders.

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.