Magnetar Financial LLC Takes $284,000 Position in Thor Industries, Inc. $THO

Key Points

• Magnetar Financial LLC has invested approximately $284,000 in Thor Industries, Inc. by purchasing 3,750 shares.
• Several large institutional investors, including UMB Bank n.a. and NBC Securities Inc., have significantly increased their stakes in Thor Industries during the first quarter.
• Thor Industries has announced a stock buyback program allowing for the repurchase of up to $400 million in shares, which indicates that the board believes the stock is undervalued.

Magnetar Financial LLC bought a new position in shares of Thor Industries, Inc. (NYSE:THO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,750 shares of the construction company's stock, valued at approximately $284,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC raised its position in Thor Industries by 140.9% during the 4th quarter. Hsbc Holdings PLC now owns 6,301 shares of the construction company's stock worth $604,000 after purchasing an additional 3,685 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Thor Industries by 8.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,449 shares of the construction company's stock valued at $3,680,000 after acquiring an additional 2,985 shares in the last quarter. Northern Trust Corp lifted its stake in Thor Industries by 20.4% during the 4th quarter. Northern Trust Corp now owns 489,864 shares of the construction company's stock valued at $46,885,000 after acquiring an additional 82,961 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Thor Industries by 148.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,959 shares of the construction company's stock worth $570,000 after purchasing an additional 3,559 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in Thor Industries during the fourth quarter worth $440,000. Institutional investors own 96.71% of the company's stock.

Insider Buying and Selling at Thor Industries

In other Thor Industries news, Director Peter Busch Orthwein acquired 3,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were bought at an average price of $85.40 per share, with a total value of $256,200.00. Following the completion of the acquisition, the director owned 136,400 shares in the company, valued at $11,648,560. This represents a 2.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is owned by company insiders.

Thor Industries Stock Up 0.5%

Shares of THO stock traded up $0.61 during mid-day trading on Friday, hitting $112.32. The company's stock had a trading volume of 508,316 shares, compared to its average volume of 770,450. The business has a 50-day moving average price of $98.36 and a 200 day moving average price of $87.18. Thor Industries, Inc. has a 52-week low of $63.15 and a 52-week high of $118.85. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.20 and a beta of 1.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.71.

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 for the quarter, beating analysts' consensus estimates of $1.79 by $0.74. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.60 billion. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 earnings per share. Research analysts predict that Thor Industries, Inc. will post 4.64 EPS for the current fiscal year.

Thor Industries announced that its Board of Directors has initiated a share repurchase plan on Monday, June 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the construction company to reacquire up to 8.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Thor Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of Thor Industries from a "strong sell" rating to a "hold" rating in a report on Wednesday. Roth Capital set a $77.00 price target on shares of Thor Industries and gave the stock a "neutral" rating in a report on Monday, June 9th. 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. KeyCorp raised Thor Industries from an "underweight" rating to a "sector weight" rating in a report on Friday, August 1st. Finally, Citigroup restated a "neutral" rating and set a $100.00 price target (up from $88.00) on shares of Thor Industries in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $94.00.

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.