Cadence Bank Has $833,000 Holdings in THOR Industries, Inc. (NYSE:THO)

Cadence Bank cut its holdings in THOR Industries, Inc. (NYSE:THO) by 1.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,583 shares of the construction company’s stock after selling 131 shares during the quarter. Cadence Bank’s holdings in THOR Industries were worth $833,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of THO. Tortoise Investment Management LLC grew its stake in shares of THOR Industries by 77.0% in the second quarter. Tortoise Investment Management LLC now owns 285 shares of the construction company’s stock valued at $27,000 after acquiring an additional 124 shares in the last quarter. Quarry LP acquired a new position in shares of THOR Industries in the second quarter valued at about $28,000. UMB Bank n.a. lifted its position in THOR Industries by 2,050.0% during the third quarter. UMB Bank n.a. now owns 258 shares of the construction company’s stock worth $28,000 after purchasing an additional 246 shares during the period. Blue Trust Inc. lifted its position in THOR Industries by 548.1% during the second quarter. Blue Trust Inc. now owns 337 shares of the construction company’s stock worth $31,000 after purchasing an additional 285 shares during the period. Finally, Van ECK Associates Corp bought a new stake in THOR Industries during the third quarter worth about $32,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at THOR Industries

In other news, VP Colleen A. Zuhl sold 4,354 shares of the firm’s stock in a transaction that occurred 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 owns 131,905 shares of the company’s stock, valued at $15,169,075. This trade represents a 3.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.50% of the company’s stock.

THOR Industries Stock Down 1.8 %

Shares of NYSE THO opened at $111.13 on Thursday. The company has a 50 day simple moving average of $108.78 and a 200 day simple moving average of $102.38. The firm has a market cap of $5.90 billion, a PE ratio of 22.64 and a beta of 1.67. THOR Industries, Inc. has a 1 year low of $88.37 and a 1 year high of $129.31. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 0.82.

THOR Industries (NYSE:THO) last issued its quarterly earnings data on Tuesday, September 24th. The construction company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.33. The business had revenue of $2.53 billion during 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 firm’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the business earned $1.68 EPS. On average, research analysts forecast that THOR Industries, Inc. will post 4.85 EPS for the current year.

THOR Industries Increases Dividend

The company also recently announced 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 represents a $2.00 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Friday, November 1st. This is an increase from THOR Industries’s previous quarterly dividend of $0.48. THOR Industries’s dividend payout ratio is currently 40.57%.

Analysts Set New Price Targets

THO has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $120.00 price objective on shares of THOR Industries in a research report on Thursday, September 19th. DA Davidson reaffirmed a “neutral” rating and set a $95.00 price objective on shares of THOR Industries in a research report on Monday, September 30th. Citigroup upped their price objective on shares of THOR Industries from $119.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Truist Financial increased their target price on shares of THOR Industries from $95.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, Benchmark reissued a “hold” rating on shares of THOR Industries in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.