Diversified Investment Strategies LLC Makes New $226,000 Investment in Thor Industries, Inc. $THO

Key Points

• Diversified Investment Strategies LLC made a new investment of approximately $226,000 in Thor Industries, Inc., acquiring 2,550 shares in the second quarter.
• Thor Industries has initiated a $400 million share repurchase program, indicating management's belief that the stock is currently undervalued.
• The company recently announced an increase in its quarterly dividend from $0.50 to $0.52, reflecting a commitment to returning value to shareholders.

Diversified Investment Strategies LLC bought a new position in shares of Thor Industries, Inc. (NYSE:THO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,550 shares of the RV manufacturer's stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THO. Janney Montgomery Scott LLC grew its holdings in Thor Industries by 21.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 143,691 shares of the RV manufacturer's stock worth $10,893,000 after acquiring an additional 24,938 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Thor Industries by 33.5% during the 1st quarter. QRG Capital Management Inc. now owns 20,453 shares of the RV manufacturer's stock worth $1,551,000 after acquiring an additional 5,136 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Thor Industries by 3.0% during the 1st quarter. State of Alaska Department of Revenue now owns 6,235 shares of the RV manufacturer's stock worth $472,000 after acquiring an additional 180 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Thor Industries by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 64,775 shares of the RV manufacturer's stock worth $4,911,000 after acquiring an additional 207 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Thor Industries by 43.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 547,659 shares of the RV manufacturer's stock valued at $41,518,000 after buying an additional 167,148 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

Thor Industries Stock Performance

Shares of Thor Industries stock opened at $105.21 on Wednesday. The firm has a market capitalization of $5.54 billion, a P/E ratio of 25.23, a PEG ratio of 1.75 and a beta of 1.35. 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 company has a 50 day moving average price of $105.69 and a 200 day moving average price of $90.53. Thor Industries, Inc. has a 52 week low of $63.15 and a 52 week high of $118.85.

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

Thor Industries Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on THO. Bank of America raised their price target on shares of Thor Industries from $100.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Truist Financial lowered their price target on shares of Thor Industries from $115.00 to $110.00 and set a "hold" rating on the stock in a report on Thursday, October 9th. KeyCorp upgraded shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a report on Friday, August 1st. DA Davidson raised their price target on shares of Thor Industries from $78.00 to $102.00 and gave the company a "neutral" rating in a report on Tuesday, September 30th. Finally, Zacks Research upgraded shares of Thor Industries from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $104.00.

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.

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