US Bancorp DE Sells 688 Shares of Thor Industries, Inc. (NYSE:THO)

US Bancorp DE lessened its holdings in Thor Industries, Inc. (NYSE:THO) by 18.8% in the first quarter, Holdings Channel reports. The firm owned 2,979 shares of the construction company’s stock after selling 688 shares during the period. US Bancorp DE’s holdings in Thor Industries were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. grew its stake in Thor Industries by 135.6% in the 1st quarter. UMB Bank n.a. now owns 483 shares of the construction company’s stock valued at $37,000 after purchasing an additional 278 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake 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 valued at $61,000 after purchasing an additional 395 shares during the period. NBC Securities Inc. grew its stake 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 valued at $205,000 after purchasing an additional 2,710 shares during the period. Oxford Asset Management LLP bought a new position in Thor Industries in the 4th quarter valued at $217,000. Finally, Neo Ivy Capital Management grew its stake 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 valued at $234,000 after purchasing an additional 257 shares during the period. Institutional investors own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on THO. KeyCorp upgraded Thor Industries from an “underweight” rating to a “sector weight” rating in a research note on Friday, August 1st. Citigroup restated a “neutral” rating and issued a $100.00 price objective (up previously from $88.00) on shares of Thor Industries in a research note on Tuesday. Truist Financial upped their price objective on Thor Industries from $72.00 to $78.00 and gave the company a “hold” rating in a research note on Tuesday, June 3rd. Wall Street Zen upgraded Thor Industries from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. Finally, 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. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $89.38.

Thor Industries Stock Down 0.8%

THO stock opened at $108.34 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.71. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 2.19 and a beta of 1.21. Thor Industries, Inc. has a fifty-two week low of $63.15 and a fifty-two week high of $118.85. The stock has a fifty day moving average of $91.86 and a 200-day moving average of $86.50.

Thor Industries (NYSE:THO) last issued its quarterly earnings data on Wednesday, June 4th. The construction company reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 6.15% and a net margin of 2.32%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.13 EPS. As a group, equities research analysts predict that Thor Industries, Inc. will post 4.64 earnings per share for the current year.

Thor Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued 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 1.8%. Thor Industries’s dividend payout ratio is 47.96%.

Thor Industries announced that its Board of Directors has initiated a share repurchase program on Monday, June 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 8.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Thor Industries

In related news, Director Peter Busch Orthwein acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average price of $85.40 per share, with a total value of $256,200.00. Following the acquisition, the director owned 136,400 shares of the company’s stock, valued at approximately $11,648,560. This trade represents a 2.25% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.