Kayne Anderson Rudnick Investment Management LLC Cuts Stake in THOR Industries, Inc. (NYSE:THO)

Kayne Anderson Rudnick Investment Management LLC cut its holdings in THOR Industries, Inc. (NYSE:THO) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,174,322 shares of the construction company’s stock after selling 274,150 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.10% of THOR Industries worth $495,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THO. Atala Financial Inc bought a new position in shares of THOR Industries during the fourth quarter valued at approximately $27,000. First Horizon Advisors Inc. lifted its holdings in THOR Industries by 57.3% during the fourth quarter. First Horizon Advisors Inc. now owns 332 shares of the construction company’s stock worth $32,000 after buying an additional 121 shares during the period. Brown Brothers Harriman & Co. boosted its position in THOR Industries by 369.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 418 shares of the construction company’s stock valued at $40,000 after acquiring an additional 329 shares in the last quarter. Anchor Investment Management LLC purchased a new position in shares of THOR Industries in the 3rd quarter valued at $58,000. Finally, Stonebridge Financial Group LLC bought a new position in shares of THOR Industries in the 4th quarter worth $51,000. 96.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. BMO Capital Markets cut their target price on THOR Industries from $120.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Robert W. Baird lowered shares of THOR Industries from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $100.00 to $85.00 in a research note on Friday, April 4th. Citigroup downgraded shares of THOR Industries from a “buy” rating to a “neutral” rating and lowered their target price for the company from $94.00 to $86.00 in a research note on Wednesday, March 19th. DA Davidson upgraded THOR Industries to a “hold” rating in a report on Monday, April 14th. Finally, Bank of America upgraded THOR Industries from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $125.00 in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, THOR Industries has an average rating of “Hold” and an average target price of $87.57.

THOR Industries Stock Performance

Shares of THO stock opened at $69.06 on Friday. The business has a fifty day moving average of $83.38 and a 200 day moving average of $97.11. THOR Industries, Inc. has a 1 year low of $63.16 and a 1 year high of $118.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 0.78. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.16 and a beta of 1.59.

THOR Industries (NYSE:THO) last announced its quarterly earnings data on Wednesday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08). THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, research analysts expect that THOR Industries, Inc. will post 4.64 earnings per share for the current year.

THOR Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Tuesday, April 8th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.90%. The ex-dividend date is Tuesday, April 8th. THOR Industries’s payout ratio is 53.05%.

THOR Industries 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.