Thor Industries, Inc. (NYSE:THO) Shares Bought by Heartland Advisors Inc.

Key Points

• Heartland Advisors Inc. boosted its stake in Thor Industries by 33.4%, now holding 181,677 shares worth approximately $13.77 million as of its latest SEC filing.
• Thor Industries recently reported quarterly earnings of $2.53 per share, surpassing estimates of $1.79, with revenue of $2.89 billion, exceeding expectations of $2.60 billion.
• The board of Thor Industries authorized a share buyback program of $400 million, representing up to 8.8% of its outstanding shares, suggesting that the company believes its stock may be undervalued.

Heartland Advisors Inc. grew its holdings in Thor Industries, Inc. (NYSE:THO - Free Report) by 33.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 181,677 shares of the construction company's stock after purchasing an additional 45,441 shares during the quarter. Heartland Advisors Inc. owned approximately 0.34% of Thor Industries worth $13,773,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in shares of Thor Industries in the 4th quarter valued at $58,000. Teacher Retirement System of Texas grew its stake in Thor Industries by 125.5% in the fourth quarter. Teacher Retirement System of Texas now owns 12,462 shares of the construction company's stock valued at $1,193,000 after purchasing an additional 6,935 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Thor Industries in the fourth quarter worth about $986,000. LPL Financial LLC lifted its position in shares of Thor Industries by 7.2% during the fourth quarter. LPL Financial LLC now owns 40,367 shares of the construction company's stock valued at $3,864,000 after buying an additional 2,708 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Thor Industries in the 4th quarter valued at about $54,754,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on THO shares. DA Davidson raised shares of Thor Industries to a "hold" rating in a research report on Monday, April 14th. Robert W. Baird lowered Thor Industries from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $100.00 to $85.00 in a report on Friday, April 4th. Truist Financial boosted their target price on Thor Industries from $72.00 to $78.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. KeyCorp increased their price target on Thor Industries from $60.00 to $65.00 and gave the company an "underweight" rating in a research note on Friday, May 30th. Finally, Baird R W lowered Thor Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $87.63.

Thor Industries Stock Performance

THO traded up $1.72 during trading on Friday, reaching $95.30. 360,343 shares of the company's stock were exchanged, compared to its average volume of 586,836. The company's fifty day simple moving average is $87.70 and its 200-day simple moving average is $86.74. The stock has a market capitalization of $5.07 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 1.97 and a beta of 1.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.90. Thor Industries, Inc. has a 1 year low of $63.15 and a 1 year high of $118.85.

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

Thor Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Tuesday, July 1st. Thor Industries's dividend payout ratio (DPR) is presently 47.96%.

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

Insiders Place Their Bets

In other news, Director Peter Busch Orthwein acquired 3,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was acquired at an average price of $85.40 per share, for a total transaction of $256,200.00. Following the completion of the transaction, the director owned 136,400 shares in the company, valued at approximately $11,648,560. The trade was a 2.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.50% of the company's stock.

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.