Kayne Anderson Rudnick Investment Management LLC Sells 28,482 Shares of Thor Industries, Inc. $THO

Key Points

• Kayne Anderson Rudnick Investment Management LLC has reduced its stake in Thor Industries, Inc. by 0.6%, currently owning 5,145,840 shares worth approximately $390 million.
• Insider activity includes Director Peter Busch Orthwein purchasing 3,000 shares, increasing his ownership by 2.25% and valuing it at over $11.6 million.
• Thor Industries recently initiated a $400 million share repurchase program, allowing it to buy back up to 8.8% of its shares, indicating a belief that its stock is undervalued.

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in Thor Industries, Inc. (NYSE:THO - Free Report) by 0.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,145,840 shares of the construction company's stock after selling 28,482 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 9.67% of Thor Industries worth $390,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Crossmark Global Holdings Inc. lifted its position in Thor Industries by 4.2% during the first quarter. Crossmark Global Holdings Inc. now owns 3,560 shares of the construction company's stock valued at $270,000 after purchasing an additional 145 shares during the period. ProShare Advisors LLC lifted its position in Thor Industries by 7.2% during the fourth quarter. ProShare Advisors LLC now owns 2,485 shares of the construction company's stock valued at $238,000 after purchasing an additional 166 shares during the period. State of Alaska Department of Revenue lifted its position in Thor Industries by 3.0% during the first quarter. State of Alaska Department of Revenue now owns 6,235 shares of the construction company's stock valued at $472,000 after purchasing an additional 180 shares during the period. Venturi Wealth Management LLC lifted its position in Thor Industries by 2.9% during the first quarter. Venturi Wealth Management LLC now owns 6,494 shares of the construction company's stock valued at $492,000 after purchasing an additional 182 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in Thor Industries by 1.4% during the first quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the construction company's stock valued at $1,130,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 96.71% of the company's stock.

Thor Industries Trading Down 1.3%

Thor Industries stock traded down $1.45 during midday trading on Friday, reaching $108.27. The stock had a trading volume of 155,403 shares, compared to its average volume of 774,247. The company has a quick ratio of 0.90, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. Thor Industries, Inc. has a 52-week low of $63.15 and a 52-week high of $118.85. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 2.21 and a beta of 1.21. The company has a fifty day moving average of $96.11 and a 200 day moving average of $86.95.

Thor Industries (NYSE:THO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The construction company reported $2.53 earnings per share for the quarter, topping 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 company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the company posted $2.13 EPS. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. Thor Industries has set its FY 2025 guidance at 3.300-4.000 EPS. On average, analysts anticipate that Thor Industries, Inc. will post 4.64 earnings per share for the current fiscal year.

Thor Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, July 1st. Thor Industries's dividend payout ratio is currently 47.96%.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on THO. Citigroup restated a "neutral" rating and set a $100.00 price objective (up previously from $88.00) on shares of Thor Industries in a research report on Tuesday, August 12th. KeyCorp upgraded shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a research note on Friday, August 1st. 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 research note on Tuesday, June 3rd. Roth Capital set a $77.00 price target on shares of Thor Industries and gave the stock a "neutral" rating in a research note on Monday, June 9th. Finally, Wall Street Zen upgraded shares of Thor Industries from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $89.38.

Insider Buying and Selling

In related news, Director Peter Busch Orthwein bought 3,000 shares of the company's stock in a transaction on Friday, June 20th. The shares were acquired at an average cost of $85.40 per share, for a total transaction of $256,200.00. Following the purchase, the director directly owned 136,400 shares of the company's stock, valued at approximately $11,648,560. The trade was a 2.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is owned by corporate insiders.

About Thor Industries

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.