Turtle Creek Wealth Advisors LLC Takes $407,000 Position in Thor Industries, Inc. $THO

Key Points

• Turtle Creek Wealth Advisors LLC has acquired a stake in Thor Industries, purchasing 4,588 shares valued at approximately $407,000 during the second quarter.
• Thor Industries announced a new $400 million stock repurchase plan, indicating the company believes its shares are undervalued.
• The company also increased its quarterly dividend from $0.50 to $0.52, reflecting an annualized dividend of $2.08 and a yield of 2.0%.

Turtle Creek Wealth Advisors LLC acquired a new stake in Thor Industries, Inc. (NYSE:THO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,588 shares of the RV manufacturer's stock, valued at approximately $407,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Diversified Investment Strategies LLC bought a new position in shares of Thor Industries in the 2nd quarter valued at about $226,000. Bayforest Capital Ltd bought a new position in shares of Thor Industries in the 2nd quarter valued at about $583,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Thor Industries by 85.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 14,085 shares of the RV manufacturer's stock worth $1,251,000 after buying an additional 6,487 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Thor Industries during the 2nd quarter worth about $204,000. Finally, Inspire Investing LLC lifted its stake in shares of Thor Industries by 5.9% during the 2nd quarter. Inspire Investing LLC now owns 5,531 shares of the RV manufacturer's stock worth $491,000 after buying an additional 306 shares during the last quarter. Institutional investors own 96.71% of the company's stock.

Thor Industries Price Performance

Shares of Thor Industries stock opened at $104.51 on Friday. Thor Industries, Inc. has a twelve month low of $63.15 and a twelve month high of $118.85. The company has a quick ratio of 0.90, a current ratio of 1.75 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $106.04 and a two-hundred day simple moving average of $90.82. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.35.

Thor Industries declared that its board has approved a stock repurchase 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 leadership believes its shares are undervalued.

Thor Industries Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on THO shares. Roth Capital set a $93.00 target price on shares of Thor Industries and gave the stock a "neutral" rating in a research note on Wednesday, September 17th. KeyCorp upgraded shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a research note on Friday, August 1st. BMO Capital Markets raised their target price on shares of Thor Industries from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. Citigroup cut their target price on shares of Thor Industries from $122.00 to $117.00 and set a "neutral" rating for the company in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Thor Industries from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Thor Industries currently has a consensus rating of "Hold" and a consensus price target of $104.00.

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.

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