UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Boosts Stock Position in Thor Industries, Inc. $THO

Key Points

• UBS AM has increased its stake in Thor Industries by 2.9% during the first quarter, owning 499,800 shares valued at approximately $37.89 million.
• Several institutional investors, including ACR Alpine Capital Research LLC and Southpoint Capital Advisors LP, have significantly boosted their positions in Thor Industries, suggesting growing confidence in the company's prospects.
• Thor Industries has announced a quarterly dividend of $0.50 per share and authorized a $400 million stock buyback program, reflecting management's belief that the stock is undervalued.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Thor Industries, Inc. (NYSE:THO - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 499,800 shares of the construction company's stock after purchasing an additional 14,037 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.94% of Thor Industries worth $37,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of THO. ACR Alpine Capital Research LLC grew its stake in shares of Thor Industries by 62.5% during the first quarter. ACR Alpine Capital Research LLC now owns 3,482,917 shares of the construction company's stock worth $264,040,000 after acquiring an additional 1,339,951 shares during the last quarter. Southpoint Capital Advisors LP grew its stake in shares of Thor Industries by 106.2% during the first quarter. Southpoint Capital Advisors LP now owns 1,250,000 shares of the construction company's stock worth $94,762,000 after acquiring an additional 643,851 shares during the last quarter. Timucuan Asset Management Inc. FL grew its stake in shares of Thor Industries by 20.1% during the first quarter. Timucuan Asset Management Inc. FL now owns 2,448,401 shares of the construction company's stock worth $185,613,000 after acquiring an additional 409,636 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Thor Industries by 6.5% during the first quarter. Vanguard Group Inc. now owns 5,376,681 shares of the construction company's stock worth $407,606,000 after acquiring an additional 326,584 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Thor Industries by 43.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 547,659 shares of the construction company's stock worth $41,518,000 after acquiring an additional 167,148 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

Analyst Ratings Changes

THO has been the topic of a number of research analyst reports. Roth Capital set a $77.00 price target on Thor Industries and gave the stock a "neutral" rating in a research note on Monday, June 9th. Truist Financial lifted their target price on Thor Industries from $86.00 to $115.00 and gave the stock a "hold" rating in a report on Wednesday, September 3rd. KeyCorp raised Thor Industries from an "underweight" rating to a "sector weight" rating in a report on Friday, August 1st. Citigroup lifted their target price on Thor Industries from $100.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Bank of America lifted their target price on Thor Industries from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $94.88.

Thor Industries Stock Down 0.1%

Shares of NYSE:THO opened at $104.87 on Tuesday. 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 business has a fifty day moving average of $100.79 and a two-hundred day moving average of $87.36. The stock has a market cap of $5.58 billion, a P/E ratio of 25.15, a PEG ratio of 2.10 and a beta of 1.33. Thor Industries, Inc. has a 52-week low of $63.15 and a 52-week high of $118.85.

Thor Industries Announces Dividend

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

Thor Industries declared that its board has authorized a share repurchase program on Monday, June 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the construction company to purchase up to 8.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Insider Transactions at Thor Industries

In other Thor Industries news, Director Peter Busch Orthwein purchased 3,000 shares of the stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $85.40 per share, for a total transaction of $256,200.00. Following the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding THO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thor Industries, Inc. (NYSE:THO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.