THOR Industries, Inc. (NYSE:THO) Stock Position Reduced by Cadence Bank

Cadence Bank cut its stake in shares of THOR Industries, Inc. (NYSE:THO) by 1.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,583 shares of the construction company’s stock after selling 131 shares during the period. Cadence Bank’s holdings in THOR Industries were worth $833,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in THO. Tortoise Investment Management LLC grew its position in THOR Industries by 77.0% in the second quarter. Tortoise Investment Management LLC now owns 285 shares of the construction company’s stock worth $27,000 after acquiring an additional 124 shares in the last quarter. Quarry LP bought a new stake in THOR Industries in the second quarter worth approximately $28,000. UMB Bank n.a. grew its position in THOR Industries by 2,050.0% in the third quarter. UMB Bank n.a. now owns 258 shares of the construction company’s stock worth $28,000 after acquiring an additional 246 shares in the last quarter. Blue Trust Inc. grew its position in THOR Industries by 548.1% in the second quarter. Blue Trust Inc. now owns 337 shares of the construction company’s stock worth $31,000 after acquiring an additional 285 shares in the last quarter. Finally, Van ECK Associates Corp bought a new stake in THOR Industries in the third quarter worth approximately $32,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

THOR Industries Stock Down 1.8 %

Shares of NYSE:THO opened at $111.13 on Thursday. THOR Industries, Inc. has a one year low of $88.37 and a one year high of $129.31. The company has a 50 day moving average of $108.78 and a 200-day moving average of $102.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 0.82. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 22.64 and a beta of 1.67.

THOR Industries (NYSE:THO) last issued its quarterly earnings data on Tuesday, September 24th. The construction company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.33. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. THOR Industries had a net margin of 2.64% and a return on equity of 7.02%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.68 earnings per share. On average, sell-side analysts forecast that THOR Industries, Inc. will post 4.85 earnings per share for the current year.

THOR Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Friday, November 1st. This is a positive change from THOR Industries’s previous quarterly dividend of $0.48. THOR Industries’s payout ratio is currently 40.57%.

Insider Transactions at THOR Industries

In other news, VP Colleen A. Zuhl sold 4,354 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $115.00, for a total value of $500,710.00. Following the sale, the vice president now owns 131,905 shares of the company’s stock, valued at $15,169,075. The trade was a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on THO shares. Citigroup upped their price objective on shares of THOR Industries from $119.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $120.00 price objective on shares of THOR Industries in a report on Thursday, September 19th. Benchmark reaffirmed a “hold” rating on shares of THOR Industries in a report on Tuesday, October 1st. Truist Financial upped their price objective on shares of THOR Industries from $95.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $95.00 price objective on shares of THOR Industries in a report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, THOR Industries currently has an average rating of “Moderate Buy” and a consensus price target of $110.80.

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.