State of Michigan Retirement System Buys 300 Shares of THOR Industries, Inc. (NYSE:THO)

State of Michigan Retirement System lifted its holdings in THOR Industries, Inc. (NYSE:THO) by 2.3% during the first quarter, HoldingsChannel.com reports. The firm owned 13,118 shares of the construction company’s stock after purchasing an additional 300 shares during the period. State of Michigan Retirement System’s holdings in THOR Industries were worth $1,539,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in THO. Norges Bank bought a new stake in shares of THOR Industries in the fourth quarter worth $65,391,000. Pacer Advisors Inc. lifted its position in shares of THOR Industries by 56.7% in the fourth quarter. Pacer Advisors Inc. now owns 725,667 shares of the construction company’s stock worth $85,810,000 after purchasing an additional 262,478 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of THOR Industries by 4.1% in the third quarter. Vanguard Group Inc. now owns 5,270,059 shares of the construction company’s stock worth $501,341,000 after purchasing an additional 208,343 shares in the last quarter. Deutsche Bank AG lifted its position in shares of THOR Industries by 2,509.8% in the third quarter. Deutsche Bank AG now owns 180,178 shares of the construction company’s stock worth $17,140,000 after purchasing an additional 173,274 shares in the last quarter. Finally, Scout Investments Inc. lifted its position in shares of THOR Industries by 89.7% in the fourth quarter. Scout Investments Inc. now owns 239,396 shares of the construction company’s stock worth $28,309,000 after purchasing an additional 113,201 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Robert W. Baird cut their price objective on shares of THOR Industries from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th. Truist Financial dropped their price target on shares of THOR Industries from $100.00 to $95.00 and set a “hold” rating on the stock in a research report on Thursday, June 6th. Citigroup dropped their price target on shares of THOR Industries from $120.00 to $113.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Finally, TheStreet lowered shares of THOR Industries from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

THOR Industries Stock Performance

NYSE THO opened at $92.00 on Friday. The company has a current ratio of 1.65, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average price is $96.74 and its two-hundred day moving average price is $107.50. THOR Industries, Inc. has a 1 year low of $84.54 and a 1 year high of $129.31. The firm has a market capitalization of $4.89 billion, a P/E ratio of 18.66 and a beta of 1.71.

THOR Industries (NYSE:THO) last released its quarterly earnings data on Wednesday, June 5th. The construction company reported $2.13 EPS for the quarter, beating the consensus estimate of $1.89 by $0.24. THOR Industries had a net margin of 2.59% and a return on equity of 7.07%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the company earned $2.24 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, research analysts anticipate that THOR Industries, Inc. will post 4.79 EPS for the current year.

THOR Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 3rd will be issued a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.92 annualized dividend and a dividend yield of 2.09%. THOR Industries’s dividend payout ratio is currently 38.95%.

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.