Y Intercept Hong Kong Ltd Makes New Investment in Thor Industries, Inc. (NYSE:THO)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Thor Industries, Inc. (NYSE:THO) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,579 shares of the construction company’s stock, valued at approximately $802,000.

Several other institutional investors and hedge funds have also modified their holdings of THO. Norges Bank purchased a new position in shares of Thor Industries during the 4th quarter valued at $54,754,000. Raymond James Financial Inc. bought a new stake in shares of Thor Industries in the fourth quarter valued at about $52,497,000. Timucuan Asset Management Inc. FL lifted its stake in shares of Thor Industries by 16.2% in the fourth quarter. Timucuan Asset Management Inc. FL now owns 2,038,765 shares of the construction company’s stock valued at $195,130,000 after buying an additional 283,744 shares during the period. Southpoint Capital Advisors LP lifted its stake in shares of Thor Industries by 73.2% in the fourth quarter. Southpoint Capital Advisors LP now owns 606,149 shares of the construction company’s stock valued at $58,015,000 after buying an additional 256,149 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in Thor Industries by 43.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 547,659 shares of the construction company’s stock worth $41,518,000 after purchasing an additional 167,148 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Thor Industries Stock Performance

Shares of THO opened at $95.30 on Friday. The company has a market cap of $5.07 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.93 and a beta of 1.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.90. The firm has a 50-day moving average of $87.70 and a 200-day moving average of $86.80. Thor Industries, Inc. has a one year low of $63.15 and a one year high of $118.85.

Thor Industries (NYSE:THO) last announced its earnings results on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, topping the consensus estimate of $1.79 by $0.74. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.60 billion. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. Thor Industries’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.13 EPS. As a group, equities analysts forecast that Thor Industries, Inc. will post 4.64 earnings per share for the current year.

Thor Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Tuesday, July 1st. Thor Industries’s dividend payout ratio is currently 47.96%.

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

Analysts Set New Price Targets

THO has been the subject of several recent research reports. KeyCorp increased their price target on shares of Thor Industries from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Friday, May 30th. Baird R W cut shares of Thor Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Truist Financial raised their price objective on shares of Thor Industries from $72.00 to $78.00 and gave the company a “hold” rating in a research note on Tuesday, June 3rd. Robert W. Baird cut shares of Thor Industries from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $100.00 to $85.00 in a research note on Friday, April 4th. Finally, DA Davidson raised shares of Thor Industries to a “hold” rating in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $87.63.

Insider Activity

In other news, Director Peter Busch Orthwein purchased 3,000 shares of Thor Industries stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average price of $85.40 per share, for a total transaction of $256,200.00. Following the transaction, the director owned 136,400 shares of the company’s stock, valued at approximately $11,648,560. The trade was a 2.25% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.50% of the company’s stock.

About Thor Industries

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.