Hsbc Holdings PLC lessened its stake in shares of Thor Industries, Inc. (NYSE:THO) by 94.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,432 shares of the construction company’s stock after selling 101,624 shares during the period. Hsbc Holdings PLC’s holdings in Thor Industries were worth $741,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Thor Industries by 53.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,668 shares of the construction company’s stock worth $402,000 after acquiring an additional 933 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Thor Industries by 320.3% during the fourth quarter. Teacher Retirement System of Texas now owns 18,199 shares of the construction company’s stock worth $2,743,000 after buying an additional 13,869 shares in the last quarter. California Public Employees Retirement System boosted its stake in Thor Industries by 4.7% during the fourth quarter. California Public Employees Retirement System now owns 118,578 shares of the construction company’s stock worth $17,872,000 after buying an additional 5,358 shares in the last quarter. Swiss National Bank boosted its stake in Thor Industries by 2.3% during the fourth quarter. Swiss National Bank now owns 89,600 shares of the construction company’s stock worth $13,505,000 after buying an additional 2,000 shares in the last quarter. Finally, New Mexico Educational Retirement Board acquired a new stake in Thor Industries during the fourth quarter worth $1,824,000. Institutional investors own 88.68% of the company’s stock.
THO opened at $102.16 on Friday. Thor Industries, Inc. has a 1-year low of $89.89 and a 1-year high of $161.48. The company has a current ratio of 1.67, a quick ratio of 0.96 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $5.53 billion, a P/E ratio of 11.47 and a beta of 1.30.
Thor Industries declared that its Board of Directors has approved a share 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 board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, July 2nd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, June 29th. Thor Industries’s dividend payout ratio is 20.87%.
A number of research analysts recently issued reports on THO shares. Citigroup cut their price target on Thor Industries from $150.00 to $130.00 and set a “buy” rating for the company in a report on Thursday. Zacks Investment Research upgraded Thor Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. Argus upgraded Thor Industries from a “hold” rating to a “buy” rating in a research report on Friday, March 16th. They noted that the move was a valuation call. Stifel Nicolaus set a $124.00 target price on Thor Industries and gave the stock a “hold” rating in a research report on Monday, May 7th. Finally, BMO Capital Markets upgraded Thor Industries from a “market perform” rating to an “outperform” rating and set a $102.00 target price for the company in a research report on Tuesday, May 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $121.33.
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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