Commerce Bank Lowers Position in THOR Industries, Inc. (NYSE:THO)

Commerce Bank decreased its holdings in shares of THOR Industries, Inc. (NYSE:THO) by 4.7% in the 3rd quarter, Holdings Channel reports. The firm owned 6,425 shares of the construction company’s stock after selling 320 shares during the period. Commerce Bank’s holdings in THOR Industries were worth $706,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of THO. Tortoise Investment Management LLC grew its stake in THOR Industries by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 285 shares of the construction company’s stock worth $27,000 after buying an additional 124 shares in the last quarter. Stratos Wealth Advisors LLC grew its position in THOR Industries by 2.2% in the third quarter. Stratos Wealth Advisors LLC now owns 6,411 shares of the construction company’s stock worth $705,000 after acquiring an additional 135 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in THOR Industries by 0.9% in the third quarter. Nisa Investment Advisors LLC now owns 15,776 shares of the construction company’s stock valued at $1,734,000 after acquiring an additional 135 shares during the last quarter. MJP Associates Inc. ADV raised its position in THOR Industries by 7.1% during the second quarter. MJP Associates Inc. ADV now owns 2,321 shares of the construction company’s stock valued at $217,000 after purchasing an additional 153 shares in the last quarter. Finally, Palouse Capital Management Inc. lifted its stake in THOR Industries by 25.1% during the second quarter. Palouse Capital Management Inc. now owns 793 shares of the construction company’s stock worth $74,000 after purchasing an additional 159 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

THOR Industries Stock Up 3.0 %

Shares of THOR Industries stock opened at $115.54 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.82 and a current ratio of 1.69. THOR Industries, Inc. has a 52-week low of $88.37 and a 52-week high of $129.31. The company’s 50 day moving average price is $108.62 and its 200-day moving average price is $102.33. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 23.44 and a beta of 1.67.

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

THOR Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $0.50 per share. This is a positive change from THOR Industries’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.73%. THOR Industries’s dividend payout ratio is presently 40.57%.

Insiders Place Their Bets

In related news, VP Colleen A. Zuhl sold 4,354 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $115.00, for a total value of $500,710.00. Following the completion of the sale, the vice president now owns 131,905 shares of the company’s stock, valued at $15,169,075. This trade represents a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

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

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.