State Treasurer State of Michigan cut its holdings in shares of Thor Industries, Inc. (NYSE:THO) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,400 shares of the construction company’s stock after selling 1,300 shares during the period. State Treasurer State of Michigan’s holdings in Thor Industries were worth $2,317,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank grew its position in Thor Industries by 82.0% during the 2nd quarter. Huntington National Bank now owns 983 shares of the construction company’s stock worth $103,000 after acquiring an additional 443 shares during the last quarter. Penserra Capital Management LLC bought a new stake in Thor Industries during the 2nd quarter worth approximately $104,000. Sterling Investment Advisors Ltd. bought a new stake in Thor Industries during the 2nd quarter worth approximately $105,000. Fiduciary Trust Co. bought a new stake in Thor Industries during the 2nd quarter worth approximately $133,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Thor Industries by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,735 shares of the construction company’s stock worth $181,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 91.61% of the company’s stock.
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Thor Industries (NYSE:THO) last posted its earnings results on Wednesday, September 27th. The construction company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.31. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Thor Industries had a net margin of 5.16% and a return on equity of 26.04%. The company’s revenue was up 49.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.57 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Tuesday, October 24th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, October 23rd. This is a boost from Thor Industries’s previous quarterly dividend of $0.33. Thor Industries’s payout ratio is presently 20.87%.
In other news, Chairman Peter Busch Orthwein sold 2,784 shares of Thor Industries stock in a transaction on Monday, September 18th. The shares were sold at an average price of $115.00, for a total transaction of $320,160.00. Following the transaction, the chairman now owns 1,396,352 shares in the company, valued at $160,580,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 6.60% of the company’s stock.
THO has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Thor Industries from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research report on Tuesday, September 5th. BMO Capital Markets lowered Thor Industries from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 6th. Aegis initiated coverage on Thor Industries in a report on Monday, September 11th. They set a “hold” rating and a $113.00 price objective on the stock. Stifel Nicolaus reaffirmed a “hold” rating on shares of Thor Industries in a report on Wednesday, August 16th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $120.00 price objective on shares of Thor Industries in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $120.97.
Thor Industries Company Profile
Thor Industries, Inc manufactures a range of recreational vehicles (RVs) in the United States and sells those vehicles primarily in the United States and Canada. The Company’s segments include towable recreational vehicles, which consists of the operations of Airstream, Inc (Airstream) (towable); Heartland Recreational Vehicles, LLC (Heartland) (including Bison Coach, LLC (Bison), Cruiser RV, LLC (CRV) and DRV, LLC (DRV)); Jayco, Corp.
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