Thor Industries, Inc. $THO Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has decreased its holdings in Thor Industries by 59.1%, now owning 43,395 shares valued at approximately $3.29 million.
• Multiple hedge funds are actively trading shares of Thor Industries, with Vanguard Group Inc. and ACR Alpine Capital Research LLC increasing their stakes by 6.5% and 62.5%, respectively, during the first quarter.
• Thor Industries has authorized a $400 million share buyback plan, allowing for the repurchase of up to 8.8% of its outstanding shares, indicating management's belief that the stock may be undervalued.

Jacobs Levy Equity Management Inc. reduced its stake in Thor Industries, Inc. (NYSE:THO - Free Report) by 59.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 43,395 shares of the construction company's stock after selling 62,585 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.08% of Thor Industries worth $3,290,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in Thor Industries by 135.6% in the first quarter. UMB Bank n.a. now owns 483 shares of the construction company's stock valued at $37,000 after purchasing an additional 278 shares during the period. Smartleaf Asset Management LLC increased its stake in Thor Industries by 336.1% during the first quarter. Smartleaf Asset Management LLC now owns 785 shares of the construction company's stock worth $61,000 after purchasing an additional 605 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Thor Industries by 96.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 805 shares of the construction company's stock worth $61,000 after acquiring an additional 395 shares in the last quarter. Quarry LP acquired a new position in shares of Thor Industries in the first quarter worth $94,000. Finally, Neo Ivy Capital Management grew its stake in shares of Thor Industries by 11.7% in the fourth quarter. Neo Ivy Capital Management now owns 2,451 shares of the construction company's stock worth $234,000 after acquiring an additional 257 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

Thor Industries Price Performance

Shares of THO traded down $5.34 during mid-day trading on Friday, hitting $105.02. The company's stock had a trading volume of 749,812 shares, compared to its average volume of 629,958. The firm has a 50-day simple moving average of $100.51 and a 200 day simple moving average of $87.50. Thor Industries, Inc. has a 1-year low of $63.15 and a 1-year high of $118.85. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $5.59 billion, a P/E ratio of 25.18, a P/E/G ratio of 2.20 and a beta of 1.34.

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 given a dividend of $0.50 per share. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.9%. Thor Industries's payout ratio is presently 47.96%.

Thor Industries declared that its Board of Directors 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 construction company to buy up to 8.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on THO shares. Truist Financial boosted 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, September 3rd. Roth Capital set a $77.00 price target on Thor Industries and gave the stock a "neutral" rating in a report on Monday, June 9th. Bank of America upped their price target on Thor Industries from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday. Wall Street Zen upgraded Thor Industries from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Finally, Citigroup increased their price objective on shares of Thor Industries from $100.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday. Two research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Thor Industries presently has an average rating of "Hold" and an average target price of $94.88.

Insider Transactions at Thor Industries

In other Thor Industries news, Director Peter Busch Orthwein bought 3,000 shares of the business's stock in a transaction on Friday, June 20th. The stock was bought 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.50% of the company's stock.

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.