Pacer Advisors Inc. Sells 370,485 Shares of Thor Industries, Inc. (NYSE:THO)

Key Points

• Pacer Advisors Inc. reduced its holdings in Thor Industries by 42.8%, selling 370,485 shares during the first quarter, leaving them with 494,323 shares valued at approximately $37.5 million.
• Thor Industries reported $2.53 EPS for the last quarter, exceeding analysts' estimates of $1.79, with a 3.3% year-over-year revenue increase.
• The company declared a $0.50 quarterly dividend and initiated a $400 million stock repurchase plan, signaling confidence in its current stock valuation.

Pacer Advisors Inc. cut its stake in shares of Thor Industries, Inc. (NYSE:THO - Free Report) by 42.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 494,323 shares of the construction company's stock after selling 370,485 shares during the period. Pacer Advisors Inc. owned approximately 0.93% of Thor Industries worth $37,475,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of Thor Industries during the 4th quarter worth about $58,000. Teacher Retirement System of Texas raised its position in Thor Industries by 125.5% during the 4th quarter. Teacher Retirement System of Texas now owns 12,462 shares of the construction company's stock worth $1,193,000 after purchasing an additional 6,935 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Thor Industries in the 4th quarter worth about $986,000. LPL Financial LLC boosted its stake in shares of Thor Industries by 7.2% in the 4th quarter. LPL Financial LLC now owns 40,367 shares of the construction company's stock worth $3,864,000 after buying an additional 2,708 shares during the last quarter. Finally, Norges Bank bought a new stake in Thor Industries during the 4th quarter valued at $54,754,000. 96.71% of the stock is currently owned by institutional investors.

Insider Transactions at Thor Industries

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 stock was acquired at an average price of $85.40 per share, for a total transaction of $256,200.00. Following the completion of the purchase, the director owned 136,400 shares of the company's stock, valued at approximately $11,648,560. This represents a 2.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on THO shares. Roth Capital set a $77.00 price target on shares of Thor Industries and gave the company a "neutral" rating in a report on Monday, June 9th. Wall Street Zen upgraded shares of Thor Industries from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Baird R W downgraded shares of Thor Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Robert W. Baird lowered Thor Industries from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $100.00 to $85.00 in a research report on Friday, April 4th. Finally, DA Davidson upgraded Thor Industries to a "hold" rating in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $87.63.

Thor Industries Trading Up 0.8%

Shares of Thor Industries stock traded up $0.76 during midday trading on Wednesday, reaching $96.25. The company had a trading volume of 134,389 shares, compared to its average volume of 771,792. The stock has a fifty day moving average price of $88.20 and a 200 day moving average price of $86.75. Thor Industries, Inc. has a fifty-two week low of $63.15 and a fifty-two week high of $118.85. The firm has a market cap of $5.12 billion, a PE ratio of 23.12, a P/E/G ratio of 1.96 and a beta of 1.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.90.

Thor Industries (NYSE:THO - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The construction company reported $2.53 earnings per share (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 analyst estimates of $2.60 billion. Thor Industries had a return on equity of 6.15% and a net margin of 2.32%. Thor Industries's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $2.13 EPS. On average, equities analysts anticipate that Thor Industries, Inc. will post 4.64 earnings per share for the current year.

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

Thor Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 2.08%. Thor Industries's payout ratio is 47.96%.

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.