Northern Trust Corp Increases Holdings in Thor Industries, Inc. $THO

Key Points

• Northern Trust Corp increased its stake in Thor Industries by 2.7% in the first quarter, owning approximately 0.95% of the company, valued at around $38.1 million.
• Thor Industries reported a Q2 EPS of $2.53, exceeding analysts' expectations of $1.79, with revenue for the quarter at $2.89 billion.
• The company announced a stock buyback program allowing for the repurchase of $400 million in shares, indicating management's belief that the stock is undervalued.

Northern Trust Corp grew its holdings in shares of Thor Industries, Inc. (NYSE:THO - Free Report) by 2.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 503,036 shares of the construction company's stock after purchasing an additional 13,172 shares during the period. Northern Trust Corp owned approximately 0.95% of Thor Industries worth $38,135,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in Thor Industries by 135.6% in the 1st quarter. UMB Bank n.a. now owns 483 shares of the construction company's stock worth $37,000 after acquiring an additional 278 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Thor Industries by 96.3% in the 1st 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 during the last quarter. Neo Ivy Capital Management raised its holdings in Thor Industries by 11.7% in the 4th 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 during the last quarter. ProShare Advisors LLC raised its holdings in Thor Industries by 7.2% in the 4th quarter. ProShare Advisors LLC now owns 2,485 shares of the construction company's stock worth $238,000 after acquiring an additional 166 shares during the last quarter. Finally, NBC Securities Inc. raised its holdings in Thor Industries by 135,500.0% in the 1st quarter. NBC Securities Inc. now owns 2,712 shares of the construction company's stock worth $205,000 after acquiring an additional 2,710 shares during the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Thor Industries Price Performance

THO stock traded down $2.40 during mid-day trading on Tuesday, hitting $107.20. The company had a trading volume of 156,675 shares, compared to its average volume of 772,327. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 2.20 and a beta of 1.33. Thor Industries, Inc. has a 12-month low of $63.15 and a 12-month high of $118.85. The company has a quick ratio of 0.90, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $97.05 and a 200 day moving average price of $86.83.

Thor Industries (NYSE:THO - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, topping the consensus estimate of $1.79 by $0.74. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.60 billion. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.13 EPS. Thor Industries has set its FY 2025 guidance at 3.300-4.000 EPS. On average, research analysts anticipate that Thor Industries, Inc. will post 4.64 earnings per share for the current year.

Thor Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, July 1st. Thor Industries's dividend payout ratio is currently 47.96%.

Thor Industries announced that its Board of Directors has initiated a stock repurchase plan on Monday, June 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 8.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have commented on THO. Wall Street Zen raised shares of Thor Industries from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Truist Financial lifted their target price on shares of Thor Industries from $72.00 to $78.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. Citigroup reaffirmed a "neutral" rating and issued a $100.00 target price (up previously from $88.00) on shares of Thor Industries in a research report on Tuesday, August 12th. KeyCorp raised shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a research report on Friday, August 1st. Finally, Roth Capital set a $77.00 target price on shares of Thor Industries and gave the stock a "neutral" rating in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $89.38.

Insider Activity

In other Thor Industries news, Director Peter Busch Orthwein bought 3,000 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were purchased at an average cost of $85.40 per share, for a total transaction of $256,200.00. Following the transaction, the director owned 136,400 shares of the company's stock, valued at $11,648,560. This represents a 2.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.