State of Michigan Retirement System Cuts Position in THOR Industries, Inc. (NYSE:THO)

State of Michigan Retirement System decreased its position in THOR Industries, Inc. (NYSE:THO) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,818 shares of the construction company’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in THOR Industries were worth $1,198,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of THOR Industries by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 581,871 shares of the construction company’s stock valued at $54,376,000 after purchasing an additional 3,969 shares in the last quarter. Fullcircle Wealth LLC acquired a new stake in THOR Industries in the second quarter valued at $383,000. Eagle Ridge Investment Management lifted its holdings in THOR Industries by 1.8% during the 2nd quarter. Eagle Ridge Investment Management now owns 106,605 shares of the construction company’s stock worth $9,962,000 after buying an additional 1,897 shares during the last quarter. &PARTNERS acquired a new position in shares of THOR Industries during the 2nd quarter worth about $623,000. Finally, Tevis Investment Management increased its holdings in shares of THOR Industries by 93.1% in the 2nd quarter. Tevis Investment Management now owns 6,467 shares of the construction company’s stock valued at $604,000 after acquiring an additional 3,118 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

THO has been the subject of several recent analyst reports. Citigroup decreased their target price on THOR Industries from $120.00 to $113.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Benchmark began coverage on shares of THOR Industries in a report on Thursday, July 18th. They issued a “hold” rating for the company. Robert W. Baird cut their price target on shares of THOR Industries from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, June 6th. Finally, Truist Financial reduced their price target on shares of THOR Industries from $100.00 to $95.00 and set a “hold” rating for the company in a research report on Thursday, June 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, THOR Industries currently has a consensus rating of “Hold” and an average price target of $102.00.

THOR Industries Stock Performance

Shares of THOR Industries stock opened at $106.45 on Friday. The firm’s fifty day simple moving average is $99.03 and its 200-day simple moving average is $103.61. THOR Industries, Inc. has a 12 month low of $84.54 and a 12 month high of $129.31. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 21.59 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.65 and a quick ratio of 0.74.

THOR Industries (NYSE:THO) last issued its quarterly earnings data on Wednesday, June 5th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same period last year, the firm posted $2.24 EPS. THOR Industries’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities analysts forecast that THOR Industries, Inc. will post 4.79 earnings per share for the current year.

THOR Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 3rd were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.80%. The ex-dividend date was Wednesday, July 3rd. THOR Industries’s dividend payout ratio is presently 38.95%.

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.