Allspring Global Investments Holdings LLC Grows Position in THOR Industries, Inc. (NYSE:THO)

Allspring Global Investments Holdings LLC increased its holdings in THOR Industries, Inc. (NYSE:THO) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,714 shares of the construction company’s stock after acquiring an additional 131 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in THOR Industries were worth $670,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in THO. Belpointe Asset Management LLC purchased a new stake in shares of THOR Industries during the third quarter valued at about $278,000. Verity Asset Management Inc. lifted its position in shares of THOR Industries by 30.5% during the third quarter. Verity Asset Management Inc. now owns 3,310 shares of the construction company’s stock valued at $315,000 after buying an additional 774 shares during the last quarter. Deutsche Bank AG lifted its position in shares of THOR Industries by 2,509.8% during the third quarter. Deutsche Bank AG now owns 180,178 shares of the construction company’s stock valued at $17,140,000 after buying an additional 173,274 shares during the last quarter. Neo Ivy Capital Management lifted its position in shares of THOR Industries by 17,121.9% during the third quarter. Neo Ivy Capital Management now owns 37,716 shares of the construction company’s stock valued at $3,588,000 after buying an additional 37,497 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of THOR Industries by 2.0% during the third quarter. American Century Companies Inc. now owns 645,724 shares of the construction company’s stock valued at $61,428,000 after buying an additional 12,411 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

THOR Industries Stock Performance

THO opened at $91.40 on Wednesday. THOR Industries, Inc. has a 12-month low of $84.54 and a 12-month high of $129.31. 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 has a market capitalization of $4.86 billion, a PE ratio of 18.54 and a beta of 1.71. The firm has a 50 day moving average of $96.37 and a two-hundred day moving average of $106.97.

THOR Industries (NYSE:THO) last posted its quarterly earnings results on Wednesday, June 5th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates 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% compared to the same quarter last year. On average, analysts anticipate that THOR Industries, Inc. will post 4.79 EPS for the current year.

THOR Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 3rd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, July 3rd. THOR Industries’s dividend payout ratio is presently 38.95%.

Analyst Ratings Changes

THO has been the subject of several analyst reports. Citigroup decreased their price target on shares of THOR Industries from $120.00 to $113.00 and set a “buy” rating for the company in a research report on Friday, June 7th. TheStreet cut shares of THOR Industries from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. Truist Financial lowered their target price on shares of THOR Industries from $100.00 to $95.00 and set a “hold” rating for the company in a research note on Thursday, June 6th. Finally, Robert W. Baird lowered their target price on shares of THOR Industries from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, June 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

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.