Entropy Technologies LP Buys New Stake in THOR Industries, Inc. (NYSE:THO)

Entropy Technologies LP bought a new stake in shares of THOR Industries, Inc. (NYSE:THO) during the third quarter, HoldingsChannel reports. The fund bought 4,570 shares of the construction company’s stock, valued at approximately $502,000.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in shares of THOR Industries by 2,050.0% during the third quarter. UMB Bank n.a. now owns 258 shares of the construction company’s stock valued at $28,000 after acquiring an additional 246 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in shares of THOR Industries by 77.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 285 shares of the construction company’s stock worth $27,000 after purchasing an additional 124 shares during the last quarter. Quarry LP acquired a new stake in shares of THOR Industries during the 2nd quarter worth about $28,000. Van ECK Associates Corp purchased a new stake in shares of THOR Industries during the third quarter worth about $32,000. Finally, Blue Trust Inc. raised its position in shares of THOR Industries by 548.1% in the second quarter. Blue Trust Inc. now owns 337 shares of the construction company’s stock valued at $31,000 after buying an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at THOR Industries

In related news, VP Colleen A. Zuhl sold 4,354 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $115.00, for a total transaction of $500,710.00. Following the completion of the sale, the vice president now directly owns 131,905 shares of the company’s stock, valued at approximately $15,169,075. This represents a 3.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

THOR Industries Price Performance

Shares of THOR Industries stock opened at $109.32 on Friday. The business’s fifty day moving average price is $107.33 and its 200 day moving average price is $101.89. THOR Industries, Inc. has a twelve month low of $88.37 and a twelve month high of $129.31. The company has a current ratio of 1.69, a quick ratio of 0.82 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $5.80 billion, a P/E ratio of 22.17 and a beta of 1.67.

THOR Industries (NYSE:THO) last released its quarterly earnings data on Tuesday, September 24th. The construction company reported $1.68 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 7.02% and a net margin of 2.64%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. As a group, research analysts anticipate 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. Shareholders of record on Friday, November 1st were paid a dividend of $0.50 per share. This is an increase from THOR Industries’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Friday, November 1st. THOR Industries’s payout ratio is currently 40.57%.

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.