Municipal Employees Retirement System of Michigan trimmed its position in shares of Thor Industries, Inc. (NYSE:THO) by 19.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,790 shares of the construction company’s stock after selling 3,680 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Thor Industries were worth $1,862,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in THO. Janus Henderson Group PLC acquired a new stake in Thor Industries during the second quarter worth about $128,458,000. Swedbank acquired a new stake in Thor Industries during the third quarter worth about $129,759,000. Capital Growth Management LP acquired a new stake in Thor Industries during the second quarter worth about $47,034,000. Chilton Investment Co. LLC acquired a new stake in Thor Industries during the second quarter worth about $37,692,000. Finally, BlackRock Inc. grew its stake in Thor Industries by 8.7% during the second quarter. BlackRock Inc. now owns 4,122,123 shares of the construction company’s stock worth $430,843,000 after buying an additional 329,996 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.
Shares of Thor Industries, Inc. (NYSE:THO) opened at $131.99 on Thursday. Thor Industries, Inc. has a one year low of $85.43 and a one year high of $138.07. The company has a quick ratio of 0.92, a current ratio of 1.51 and a debt-to-equity ratio of 0.09. The firm has a market cap of $6,943.54, a P/E ratio of 18.58 and a beta of 1.42.
Thor Industries (NYSE:THO) last posted its quarterly earnings results on Wednesday, September 27th. The construction company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.31. Thor Industries had a net margin of 5.16% and a return on equity of 26.04%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company posted $1.57 EPS. The firm’s quarterly revenue was up 49.7% compared to the same quarter last year. sell-side analysts anticipate that Thor Industries, Inc. will post 8.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 7th. Investors of record on Tuesday, October 24th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, October 23rd. This is an increase from Thor Industries’s previous quarterly dividend of $0.33. This represents a $1.48 annualized dividend and a yield of 1.12%. Thor Industries’s dividend payout ratio (DPR) is currently 20.87%.
In related news, Chairman Peter Busch Orthwein sold 2,784 shares of Thor Industries stock in a transaction that occurred 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 sale, the chairman now directly owns 1,396,352 shares in the company, valued at approximately $160,580,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.60% of the stock is owned by company insiders.
A number of equities research analysts have issued reports on THO shares. BidaskClub downgraded shares of Thor Industries from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded shares of Thor Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Sidoti started coverage on shares of Thor Industries in a research note on Friday, August 11th. They set a “buy” rating and a $133.00 price objective on the stock. Stifel Nicolaus reiterated a “hold” rating on shares of Thor Industries in a research note on Wednesday, August 16th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $110.00 price objective on shares of Thor Industries in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $123.08.
Thor Industries 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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