Maryland State Retirement & Pension System Makes New Investment in Thor Industries, Inc. $THO

Key Points

• The Maryland State Retirement & Pension System has acquired 2,377 shares of Thor Industries, Inc. valued at approximately $211,000, marking a new investment in the RV manufacturing company.
• Thor Industries announced a quarterly dividend of $0.52 per share, an increase from the previous dividend, representing an annualized yield of 2.0%.
• Institutional investors currently hold 96.71% of Thor Industries' stock, reflecting strong confidence in the company's stability and potential growth.

Maryland State Retirement & Pension System bought a new position in shares of Thor Industries, Inc. (NYSE:THO - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,377 shares of the RV manufacturer's stock, valued at approximately $211,000.

A number of other large investors have also recently added to or reduced their stakes in THO. ACR Alpine Capital Research LLC increased its holdings in Thor Industries by 62.5% during the 1st quarter. ACR Alpine Capital Research LLC now owns 3,482,917 shares of the RV manufacturer's stock worth $264,040,000 after purchasing an additional 1,339,951 shares in the last quarter. Southpoint Capital Advisors LP increased its holdings in Thor Industries by 106.2% during the 1st quarter. Southpoint Capital Advisors LP now owns 1,250,000 shares of the RV manufacturer's stock worth $94,762,000 after purchasing an additional 643,851 shares in the last quarter. Timucuan Asset Management Inc. FL increased its holdings in Thor Industries by 20.1% during the 1st quarter. Timucuan Asset Management Inc. FL now owns 2,448,401 shares of the RV manufacturer's stock worth $185,613,000 after purchasing an additional 409,636 shares in the last quarter. Vanguard Group Inc. lifted its position in Thor Industries by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 5,376,681 shares of the RV manufacturer's stock worth $407,606,000 after buying an additional 326,584 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Thor Industries by 43.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 547,659 shares of the RV manufacturer's stock worth $41,518,000 after buying an additional 167,148 shares in the last quarter. Institutional investors own 96.71% of the company's stock.

Thor Industries Stock Up 4.1%

Shares of THO stock opened at $105.21 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.90 and a current ratio of 1.75. The firm's 50-day moving average is $105.69 and its 200-day moving average is $90.53. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.75 and a beta of 1.35. Thor Industries, Inc. has a 52-week low of $63.15 and a 52-week high of $118.85.

Thor Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 23rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, October 23rd. This is a positive change from Thor Industries's previous quarterly dividend of $0.50. Thor Industries's payout ratio is currently 47.96%.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup cut their price target on shares of Thor Industries from $122.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 8th. Robert W. Baird boosted their price target on shares of Thor Industries from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Truist Financial cut their price target on shares of Thor Industries from $115.00 to $110.00 and set a "hold" rating on the stock in a research report on Thursday, October 9th. DA Davidson boosted their price target on shares of Thor Industries from $78.00 to $102.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Thor Industries in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Thor Industries presently has a consensus 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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