10,579 Shares in Thor Industries, Inc. (NYSE:THO) Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd has acquired a new stake in Thor Industries, purchasing 10,579 shares valued at approximately $802,000 during the 1st quarter.
• Thor Industries recently reported earnings of $2.53 EPS, exceeding expectations of $1.79, with a revenue of $2.89 billion for the quarter.
• The company announced a stock buyback program allowing for the repurchase of up to $400 million in outstanding shares, indicating confidence in its stock valuation.

Y Intercept Hong Kong Ltd bought a new stake in Thor Industries, Inc. (NYSE:THO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,579 shares of the construction company's stock, valued at approximately $802,000.

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

Thor Industries Stock Down 0.2%

Shares of THO stock traded down $0.16 during midday trading on Tuesday, reaching $95.03. 133,632 shares of the stock were exchanged, compared to its average volume of 772,205. Thor Industries, Inc. has a 1 year low of $63.15 and a 1 year high of $118.85. The company's 50 day moving average is $87.96 and its two-hundred day moving average is $86.69. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a market cap of $5.06 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.97 and a beta of 1.21.

Thor Industries (NYSE:THO - Get Free Report) last posted its 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. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.60 billion. Thor Industries had a return on equity of 6.15% and a net margin of 2.32%. The business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 EPS. On average, equities research analysts predict that Thor Industries, Inc. will post 4.64 EPS for the current year.

Thor Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.50 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.10%. Thor Industries's payout ratio is currently 47.96%.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on THO. Robert W. Baird lowered Thor Industries from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $100.00 to $85.00 in a research note on Friday, April 4th. Baird R W lowered Thor Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen raised Thor Industries from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. KeyCorp upped their price target on Thor Industries from $60.00 to $65.00 and gave the company an "underweight" rating in a research report on Friday, May 30th. Finally, DA Davidson raised Thor Industries to a "hold" rating in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $87.63.

Insider Buying and Selling at Thor Industries

In related news, Director Peter Busch Orthwein purchased 3,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were bought at an average price of $85.40 per share, for a total transaction of $256,200.00. Following the purchase, the director directly owned 136,400 shares of the company's stock, valued at approximately $11,648,560. This represents a 2.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by insiders.

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.