Somerset Trust Co purchased a new position in shares of Thor Industries, Inc. (NYSE:THO) during the second quarter, HoldingsChannel.com reports. The fund purchased 3,352 shares of the construction company’s stock, valued at approximately $326,000.
A number of other large investors have also added to or reduced their stakes in THO. Asset Management One Co. Ltd. bought a new position in Thor Industries during the first quarter worth about $146,000. Point72 Asia Hong Kong Ltd bought a new position in Thor Industries during the first quarter worth about $170,000. Cerebellum GP LLC bought a new position in Thor Industries during the second quarter worth about $173,000. Smithfield Trust Co. increased its position in Thor Industries by 2,051.1% during the second quarter. Smithfield Trust Co. now owns 1,936 shares of the construction company’s stock worth $189,000 after acquiring an additional 1,846 shares during the period. Finally, Cannell Peter B & Co. Inc. bought a new position in Thor Industries during the first quarter worth about $210,000. 90.52% of the stock is currently owned by institutional investors and hedge funds.
Get Thor Industries alerts:Thor Industries traded up $2.29, hitting $103.27, during mid-day trading on Thursday, Marketbeat reports. The stock had a trading volume of 843,697 shares, compared to its average volume of 1,058,409. The company has a quick ratio of 0.96, a current ratio of 1.67 and a debt-to-equity ratio of 0.04. Thor Industries, Inc. has a 52 week low of $89.89 and a 52 week high of $161.48. The firm has a market cap of $5.34 billion, a P/E ratio of 14.34 and a beta of 1.39.
Thor Industries declared that its board has approved a stock repurchase plan on Wednesday, June 20th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, July 16th. Shareholders of record on Monday, July 2nd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, June 29th. Thor Industries’s dividend payout ratio is currently 20.87%.
A number of research firms recently commented on THO. ValuEngine lowered shares of Thor Industries from a “hold” rating to a “sell” rating in a research report on Saturday, May 12th. Zacks Investment Research raised shares of Thor Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 8th. BMO Capital Markets raised shares of Thor Industries from a “market perform” rating to an “outperform” rating and set a $102.00 price target on the stock in a research report on Tuesday, May 1st. Citigroup lowered their price target on shares of Thor Industries from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, June 21st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $124.00 price target on shares of Thor Industries in a research report on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $127.13.
About Thor Industries
Thor Industries, Inc, through its subsidiaries, designs, manufactures, and sells recreational vehicles, and related parts and accessories primarily in the United States and Canada. It operates through Towable Recreational Vehicles and Motorized Recreational Vehicles segments. The company offers travel trailers under the Airstream Classic, International, Tommy Bahama, Flying Cloud, Sport, and Basecamp trade names, as well as Interstate series of Class B motorhomes; gasoline and diesel Class A and Class C motorhomes under the Four Winds, Hurricane, Chateau, Windsport, Axis, Vegas, Tuscany, Palazzo, Aria, Quantum, Compass, Gemini, A.C.E., Alante, Precept, Greyhawk, and Redhawk trade names; and luxury Class A motorhomes under Insignia, Aspire, Anthem, and Cornerstone trade names.
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