Deutsche Bank AG Sells 159,371 Shares of Thor Industries, Inc. $THO

Key Points

• Deutsche Bank AG significantly reduced its holdings in Thor Industries by selling 159,371 shares, resulting in a 97.4% decrease in their stake to just 4,327 shares valued at $328,000.
• Several large investors, including Vanguard Group Inc. and Federated Hermes Inc., have recently increased their positions in Thor Industries, reflecting ongoing confidence in the company's stock despite Deutsche Bank's selloff.
• Thor Industries announced a $400 million share repurchase program and a quarterly dividend of $0.50 per share, indicating a commitment to returning value to shareholders as part of its strategic financial management.

Deutsche Bank AG reduced its holdings in Thor Industries, Inc. (NYSE:THO - Free Report) by 97.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,327 shares of the construction company's stock after selling 159,371 shares during the period. Deutsche Bank AG's holdings in Thor Industries were worth $328,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. ACR Alpine Capital Research LLC raised its holdings in Thor Industries by 62.5% in the 1st quarter. ACR Alpine Capital Research LLC now owns 3,482,917 shares of the construction company's stock worth $264,040,000 after purchasing an additional 1,339,951 shares during the period. Vanguard Group Inc. lifted its stake in Thor Industries by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,376,681 shares of the construction company's stock worth $407,606,000 after acquiring an additional 326,584 shares during the last quarter. Southpoint Capital Advisors LP increased its holdings in Thor Industries by 73.2% in the fourth quarter. Southpoint Capital Advisors LP now owns 606,149 shares of the construction company's stock valued at $58,015,000 after buying an additional 256,149 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Thor Industries by 43.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 547,659 shares of the construction company's stock worth $41,518,000 after buying an additional 167,148 shares during the last quarter. Finally, Carnegie Investment Counsel purchased a new stake in Thor Industries in the 1st quarter valued at $8,508,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Thor Industries news, Director Peter Busch Orthwein bought 3,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average cost of $85.40 per share, with a total value of $256,200.00. Following the completion of the purchase, the director directly owned 136,400 shares in the company, 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 filing with the SEC, which is available through this link. 4.50% of the stock is currently owned by corporate insiders.

Thor Industries Price Performance

THO traded up $0.12 on Wednesday, reaching $108.12. The company had a trading volume of 24,634 shares, compared to its average volume of 769,422. The company has a fifty day moving average of $97.46 and a 200-day moving average of $86.97. The company has a market capitalization of $5.75 billion, a P/E ratio of 25.93, a PEG ratio of 2.20 and a beta of 1.34. 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 posted its quarterly earnings data on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.74. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the business earned $2.13 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. 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 has approved a stock repurchase program on Monday, June 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 8.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.

Thor Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors 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 1.8%. Thor Industries's dividend payout ratio is currently 47.96%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on THO shares. Roth Capital set a $77.00 price objective on shares of Thor Industries and gave the stock a "neutral" rating in a research report on Monday, June 9th. Wall Street Zen raised shares of Thor Industries from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. KeyCorp upgraded shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a report on Friday, August 1st. Citigroup reiterated a "neutral" rating and set a $100.00 price objective (up previously from $88.00) on shares of Thor Industries in a research note on Tuesday, August 12th. Finally, Truist Financial lifted their price target on shares of Thor Industries from $86.00 to $115.00 and gave the stock a "hold" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $94.00.

Thor Industries 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.