LRI Investments LLC Has $96,000 Stake in Thor Industries, Inc. (NYSE:THO)

LRI Investments LLC trimmed its position in shares of Thor Industries, Inc. (NYSE:THO) by 42.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,267 shares of the construction company’s stock after selling 941 shares during the period. LRI Investments LLC’s holdings in Thor Industries were worth $96,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of THO. Norges Bank bought a new stake in Thor Industries during the fourth quarter valued at about $54,754,000. Raymond James Financial Inc. bought a new stake in Thor Industries during the fourth quarter valued at about $52,497,000. Timucuan Asset Management Inc. FL boosted its holdings in Thor Industries by 16.2% during 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 acquiring an additional 283,744 shares during the period. Southpoint Capital Advisors LP boosted its holdings in Thor Industries by 73.2% during the fourth quarter. Southpoint Capital Advisors LP now owns 606,149 shares of the construction company’s stock valued at $58,015,000 after acquiring an additional 256,149 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Thor Industries by 43.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 547,659 shares of the construction company’s stock valued at $41,518,000 after acquiring an additional 167,148 shares during the period. 96.71% of the stock is currently owned by institutional investors.

Thor Industries Stock Performance

NYSE:THO opened at $92.22 on Tuesday. Thor Industries, Inc. has a 12-month low of $63.16 and a 12-month high of $118.85. The company has a quick ratio of 0.90, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $4.91 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.92 and a beta of 1.21. The firm has a 50-day moving average price of $84.98 and a 200 day moving average price of $86.92.

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

Thor Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, July 1st. Thor Industries’s payout ratio is 47.96%.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on THO. Citigroup cut shares of Thor Industries from a “buy” rating to a “neutral” rating and decreased their price target for the company from $94.00 to $86.00 in a report on Wednesday, March 19th. Roth Capital set a $77.00 target price on shares of Thor Industries and gave the company a “neutral” rating in a research note on Monday, June 9th. DA Davidson upgraded shares of Thor Industries to a “hold” rating in a research note on Monday, April 14th. 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. Finally, Robert W. Baird cut shares of Thor Industries from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $100.00 to $85.00 in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Thor Industries has an average rating of “Hold” and an average price target of $87.63.

Insider Buying and Selling at Thor Industries

In other news, Director Peter Busch Orthwein acquired 3,000 shares of the company’s stock in a transaction dated Friday, June 20th. The stock was bought at an average price of $85.40 per share, with a total value of $256,200.00. Following the completion of the acquisition, the director owned 136,400 shares in the company, valued at approximately $11,648,560. This represents a 2.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.50% of the company’s stock.

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.