THOR Industries, Inc. (NYSE:THO) Plans Dividend Increase – $0.50 Per Share

THOR Industries, Inc. (NYSE:THO) announced a quarterly dividend on Tuesday, October 8th, Zacks reports. Shareholders of record on Friday, November 1st will be given a dividend of 0.50 per share by the construction company on Friday, November 15th. This represents a $2.00 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Friday, November 1st. This is an increase from THOR Industries’s previous quarterly dividend of $0.48.

THOR Industries has raised its dividend by an average of 4.7% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. THOR Industries has a dividend payout ratio of 41.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect THOR Industries to earn $6.53 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 30.6%.

THOR Industries Trading Up 2.4 %

NYSE:THO opened at $109.05 on Wednesday. THOR Industries has a 12-month low of $84.54 and a 12-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’s 50 day simple moving average is $106.60 and its 200-day simple moving average is $101.20. The firm has a market cap of $5.77 billion, a P/E ratio of 22.12 and a beta of 1.67.

THOR Industries (NYSE:THO) last announced its quarterly earnings data on Tuesday, September 24th. The construction company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.33. THOR Industries had a net margin of 2.64% and a return on equity of 7.02%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the company posted $1.68 EPS. THOR Industries’s revenue was down 7.4% compared to the same quarter last year. Equities analysts anticipate that THOR Industries will post 4.85 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at THOR Industries

In other news, VP Colleen A. Zuhl sold 4,354 shares of THOR Industries stock in a transaction dated 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 in the company, valued at $15,169,075. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.70% of the stock is currently owned by corporate insiders.

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.