State of Alaska Department of Revenue Reduces Position in Thor Industries, Inc. $THO

State of Alaska Department of Revenue decreased its stake in shares of Thor Industries, Inc. (NYSE:THO) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,950 shares of the RV manufacturer’s stock after selling 285 shares during the period. State of Alaska Department of Revenue’s holdings in Thor Industries were worth $528,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Old North State Wealth Management LLC increased its stake in Thor Industries by 12.1% in the second quarter. Old North State Wealth Management LLC now owns 14,951 shares of the RV manufacturer’s stock valued at $1,329,000 after purchasing an additional 1,619 shares during the last quarter. Perigon Wealth Management LLC increased its stake in Thor Industries by 24.4% in the second quarter. Perigon Wealth Management LLC now owns 4,818 shares of the RV manufacturer’s stock valued at $428,000 after purchasing an additional 944 shares during the last quarter. Accurate Wealth Management LLC increased its stake in Thor Industries by 25.4% in the second quarter. Accurate Wealth Management LLC now owns 9,255 shares of the RV manufacturer’s stock valued at $876,000 after purchasing an additional 1,876 shares during the last quarter. Salvus Wealth Management LLC grew its position in Thor Industries by 9.5% during the second quarter. Salvus Wealth Management LLC now owns 53,681 shares of the RV manufacturer’s stock valued at $4,767,000 after acquiring an additional 4,676 shares during the period. Finally, GAMMA Investing LLC grew its position in Thor Industries by 75.6% during the second quarter. GAMMA Investing LLC now owns 1,273 shares of the RV manufacturer’s stock valued at $113,000 after acquiring an additional 548 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. BMO Capital Markets boosted their price objective on Thor Industries from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Citigroup reduced their price target on Thor Industries from $122.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Thor Industries in a report on Wednesday. Zacks Research raised Thor Industries from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Finally, KeyCorp upgraded Thor Industries from an “underweight” rating to a “sector weight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $104.63.

Thor Industries Stock Performance

Shares of THO stock opened at $104.96 on Thursday. Thor Industries, Inc. has a 12-month low of $63.15 and a 12-month high of $118.85. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 1.79 and a beta of 1.35. The business has a 50 day simple moving average of $104.92 and a 200 day simple moving average of $89.84. 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 of Directors has initiated a stock repurchase plan on Monday, June 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the RV manufacturer to purchase up to 8.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Thor Industries Increases Dividend

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

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.