DAVENPORT & Co LLC Acquires 480 Shares of Thor Industries, Inc. $THO

DAVENPORT & Co LLC raised its holdings in Thor Industries, Inc. (NYSE:THO) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,029 shares of the RV manufacturer’s stock after buying an additional 480 shares during the quarter. DAVENPORT & Co LLC’s holdings in Thor Industries were worth $1,424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in Thor Industries by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 122,374 shares of the RV manufacturer’s stock valued at $9,277,000 after buying an additional 755 shares during the period. Crossmark Global Holdings Inc. increased its holdings in Thor Industries by 4.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 3,560 shares of the RV manufacturer’s stock valued at $270,000 after buying an additional 145 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Thor Industries by 7.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,281 shares of the RV manufacturer’s stock valued at $249,000 after buying an additional 228 shares during the period. QRG Capital Management Inc. increased its holdings in Thor Industries by 33.5% in the 1st quarter. QRG Capital Management Inc. now owns 20,453 shares of the RV manufacturer’s stock valued at $1,551,000 after buying an additional 5,136 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in Thor Industries by 6.0% in the 1st quarter. Teacher Retirement System of Texas now owns 13,211 shares of the RV manufacturer’s stock valued at $1,002,000 after buying an additional 749 shares during the period. Institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on THO shares. Bank of America upped their target price on shares of Thor Industries from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thor Industries in a report on Wednesday. Roth Capital set a $93.00 price target on shares of Thor Industries and gave the stock a “neutral” rating in a research report on Wednesday, September 17th. Citigroup reduced their price target on shares of Thor Industries from $122.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, KeyCorp upgraded shares of Thor Industries from an “underweight” rating to a “sector weight” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Thor Industries has an average rating of “Hold” and an average price target of $104.00.

Thor Industries Stock Down 2.4%

Thor Industries stock opened at $102.35 on Friday. The company’s 50 day simple moving average is $105.15 and its 200 day simple moving average is $89.99. Thor Industries, Inc. has a fifty-two week low of $63.15 and a fifty-two week high of $118.85. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.80 and a beta of 1.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.75 and a quick ratio of 0.90.

Thor Industries declared that its board has authorized a stock repurchase program on Monday, June 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the RV manufacturer to reacquire up to 8.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Thor Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 23rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, October 23rd. This is a positive change from Thor Industries’s previous quarterly dividend of $0.50. Thor Industries’s payout ratio is 47.96%.

Thor Industries Company Profile

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.