Thor Industries, Inc. (NYSE:THO) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has decreased its holdings in Thor Industries by 20.8%, selling 107,695 shares, and now owns about 0.77% of the company, valued at $31.1 million.
• Thor Industries recently announced a $400 million share repurchase plan, indicating the board's belief that the company's shares are undervalued.
• The company reported earnings per share (EPS) of $2.53 for the last quarter, exceeding analyst estimates and reflecting a year-over-year revenue increase of 3.3%.

Natixis Advisors LLC decreased its stake in Thor Industries, Inc. (NYSE:THO - Free Report) by 20.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 410,175 shares of the construction company's stock after selling 107,695 shares during the quarter. Natixis Advisors LLC owned approximately 0.77% of Thor Industries worth $31,095,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in shares of Thor Industries by 0.6% in the first quarter. Principal Financial Group Inc. now owns 122,374 shares of the construction company's stock valued at $9,277,000 after purchasing an additional 755 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Thor Industries by 4.2% in the first quarter. Crossmark Global Holdings Inc. now owns 3,560 shares of the construction company's stock worth $270,000 after acquiring an additional 145 shares during the period. Oppenheimer & Co. Inc. grew its position in Thor Industries by 7.5% in the first quarter. Oppenheimer & Co. Inc. now owns 3,281 shares of the construction company's stock worth $249,000 after acquiring an additional 228 shares during the period. QRG Capital Management Inc. grew its position in Thor Industries by 33.5% in the first quarter. QRG Capital Management Inc. now owns 20,453 shares of the construction company's stock worth $1,551,000 after acquiring an additional 5,136 shares during the period. Finally, Teacher Retirement System of Texas grew its position in Thor Industries by 6.0% in the first quarter. Teacher Retirement System of Texas now owns 13,211 shares of the construction company's stock worth $1,002,000 after acquiring an additional 749 shares during the period. Hedge funds and other institutional investors own 96.71% of the company's stock.

Analyst Ratings Changes

THO has been the subject of several analyst reports. Truist Financial increased their price objective on Thor Industries from $72.00 to $78.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. DA Davidson upgraded Thor Industries to a "hold" rating in a research report on Monday, April 14th. KeyCorp upgraded Thor Industries from an "underweight" rating to a "sector weight" rating in a research report on Friday. Wall Street Zen upgraded Thor Industries from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Roth Capital set a $77.00 price objective on Thor Industries and gave the company a "neutral" rating in a research note on Monday, June 9th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Thor Industries currently has a consensus rating of "Hold" and an average price target of $87.63.

Insider Activity

In related news, Director Peter Busch Orthwein bought 3,000 shares of the business's stock in a transaction dated Friday, June 20th. The shares were acquired at an average price of $85.40 per share, for a total transaction of $256,200.00. Following the purchase, the director owned 136,400 shares in the company, valued at $11,648,560. This trade represents a 2.25% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.50% of the company's stock.

Thor Industries Trading Up 1.5%

Shares of NYSE THO traded up $1.37 during trading on Monday, hitting $92.68. 74,174 shares of the company traded hands, compared to its average volume of 771,028. Thor Industries, Inc. has a 1 year low of $63.15 and a 1 year high of $118.85. The company has a 50-day moving average price of $88.90 and a 200-day moving average price of $86.51. The firm has a market capitalization of $4.93 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.81 and a beta of 1.21. 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 (NYSE:THO - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.60 billion. During the same period in the prior year, the company earned $2.13 EPS. The firm's revenue was up 3.3% on a year-over-year basis. On average, equities analysts predict that Thor Industries, Inc. will post 4.64 EPS for the current year.

Thor Industries Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, July 1st. Thor Industries's dividend payout ratio is 47.96%.

Thor Industries announced that its board has authorized a stock repurchase program on Monday, June 23rd that allows the company to buyback $400.00 million in outstanding 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 typically an indication that the company's leadership believes its shares are undervalued.

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.