The Manufacturers Life Insurance Company Takes $2.59 Million Position in Thor Industries, Inc. $THO

The Manufacturers Life Insurance Company acquired a new position in shares of Thor Industries, Inc. (NYSE:THO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 34,458 shares of the RV manufacturer’s stock, valued at approximately $2,590,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Thor Industries by 433.3% during the first quarter. Jones Financial Companies Lllp now owns 7,061 shares of the RV manufacturer’s stock worth $535,000 after purchasing an additional 5,737 shares during the last quarter. United Services Automobile Association bought a new position in shares of Thor Industries during the 1st quarter valued at about $269,000. Empowered Funds LLC bought a new position in shares of Thor Industries during the 1st quarter valued at about $1,177,000. Focus Partners Wealth purchased a new position in shares of Thor Industries during the 1st quarter valued at about $255,000. Finally, Prudential Financial Inc. raised its holdings in shares of Thor Industries by 20.4% during the 2nd quarter. Prudential Financial Inc. now owns 5,534 shares of the RV manufacturer’s stock valued at $491,000 after buying an additional 937 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

THO has been the subject of several research reports. BMO Capital Markets cut their target price on Thor Industries from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Zacks Research upgraded shares of Thor Industries from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Loop Capital upped their price objective on shares of Thor Industries from $90.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Benchmark reaffirmed a “hold” rating on shares of Thor Industries in a report on Friday, June 12th. Finally, DA Davidson decreased their target price on shares of Thor Industries from $100.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, June 15th. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $92.33.

Thor Industries Price Performance

Shares of Thor Industries stock opened at $75.75 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.71 and a quick ratio of 0.80. Thor Industries, Inc. has a one year low of $69.71 and a one year high of $122.83. The business’s 50 day simple moving average is $76.98 and its two-hundred day simple moving average is $80.42. The stock has a market capitalization of $3.94 billion, a P/E ratio of 32.79, a price-to-earnings-growth ratio of 1.63 and a beta of 1.34.

Thor Industries (NYSE:THO) last released its quarterly earnings data on Wednesday, June 3rd. The RV manufacturer reported $1.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.02). Thor Industries had a net margin of 2.67% and a return on equity of 5.74%. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the company posted $2.53 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Analysts forecast that Thor Industries, Inc. will post 3.21 EPS for the current year.

Thor Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Wednesday, July 1st. Thor Industries’s dividend payout ratio is currently 90.04%.

About Thor Industries

Thor Industries, Inc is a leading manufacturer of recreational vehicles (RVs) and related components for the leisure travel market. Through its family of well-known brands—such as Airstream, Heartland, Jayco, Keystone RV and Thor Motor Coach—the company designs, manufactures and sells a broad range of motorized and towable RVs, complemented by aftermarket parts and service solutions. Thor offers products that span travel trailers, fifth wheels, toy haulers and Class A, B and C motorhomes, addressing both entry-level and premium segments.

Founded in 1980 when Wade Thompson and Peter Orthwein acquired Airstream from Beatrice Foods, Thor Industries has grown organically and through strategic acquisitions to become one of the largest RV producers in the world.