THOR Industries, Inc. (NYSE:THO) Plans $0.48 Quarterly Dividend

THOR Industries, Inc. (NYSE:THO) declared a quarterly dividend on Tuesday, March 26th, NASDAQ reports. Stockholders of record on Tuesday, April 9th will be given a dividend of 0.48 per share by the construction company on Tuesday, April 23rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Monday, April 8th.

THOR Industries has raised its dividend by an average of 4.7% per year over the last three years and has increased its dividend every year for the last 14 years. THOR Industries has a payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect THOR Industries to earn $7.66 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 25.1%.

THOR Industries Price Performance

Shares of THOR Industries stock traded up $3.26 during mid-day trading on Wednesday, reaching $114.63. 497,758 shares of the stock were exchanged, compared to its average volume of 473,958. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 22.45 and a beta of 1.79. The company has a current ratio of 1.75, a quick ratio of 0.65 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $114.92 and a 200 day simple moving average of $106.08. THOR Industries has a fifty-two week low of $74.50 and a fifty-two week high of $129.31.

THOR Industries (NYSE:THO) last posted its quarterly earnings data on Wednesday, March 6th. The construction company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.54). The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.27 billion. THOR Industries had a net margin of 2.62% and a return on equity of 7.28%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 EPS. On average, sell-side analysts predict that THOR Industries will post 5.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on THO shares. Robert W. Baird raised their target price on shares of THOR Industries from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. TheStreet lowered shares of THOR Industries from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. Truist Financial lifted their price target on shares of THOR Industries from $96.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th. Citigroup raised shares of THOR Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $111.00 to $122.00 in a research note on Friday, March 15th. Finally, BMO Capital Markets lifted their price objective on shares of THOR Industries from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, December 7th. Four 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 presently has a consensus rating of “Hold” and a consensus target price of $104.00.

Insider Buying and Selling at THOR Industries

In other news, COO W. Todd Woelfer sold 3,333 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $115.00, for a total value of $383,295.00. Following the completion of the sale, the chief operating officer now owns 98,347 shares of the company’s stock, valued at $11,309,905. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On THOR Industries

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of THOR Industries by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,312,648 shares of the construction company’s stock valued at $418,105,000 after acquiring an additional 53,286 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in THOR Industries by 0.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,165,646 shares of the construction company’s stock worth $411,392,000 after purchasing an additional 44,225 shares during the period. State Street Corp lifted its position in THOR Industries by 0.5% during the first quarter. State Street Corp now owns 1,600,219 shares of the construction company’s stock worth $127,441,000 after purchasing an additional 8,114 shares during the period. Dimensional Fund Advisors LP lifted its position in THOR Industries by 10.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,090,915 shares of the construction company’s stock worth $85,869,000 after purchasing an additional 105,545 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in THOR Industries by 371.7% during the third quarter. JPMorgan Chase & Co. now owns 950,135 shares of the construction company’s stock worth $90,386,000 after purchasing an additional 748,713 shares during the period. Institutional investors own 96.71% of the company’s stock.

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.