Ave Maria Believes that Thor Industries (THO) Shares are Undervalued

Investment management company Ave Maria recently released its “Ave Maria Rising Dividend Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the second quarter, the fund returned -11.73% compared to -11.27% for the S&P 500 Value Index.  Consumer Discretionary and Technology sectors performed poorly; however, Energy, Consumer Staples, and Industrials sectors were strong contributors. You can check the top 5 holdings of the fund to know its best picks in 2022.

Ave Maria discussed stocks like Thor Industries, Inc. (NYSE:THO) in the second quarter investor letter. Based in Elkhart, Indiana, Thor Industries, Inc. (NYSE:THO) engages in the business of recreational vehicles and related parts. On August 24, 2022, Thor Industries, Inc. (NYSE:THO) stock closed at $87.22 per share. One-month return of Thor Industries, Inc. (NYSE:THO) rose to 3.75% and its shares lost 24.26% of their value over the last 52 weeks. Thor Industries, Inc. (NYSE:THO) has a market capitalization of $4.756 billion.

Here is what Ave Maria specifically said about Thor Industries, Inc. (NYSE:THO):

“During the first half of the year, two new companies were added to the Fund: Thor Industries, Inc. (NYSE:THO), recreational vehicles) and RH (RH, home products store). Both were beneficiaries of COVID lockdowns and stimulus payments to consumers. Shares of both companies sold off from their highs and are currently out of favor with most investors, which we believe make them deeply undervalued.”

Our research shows that Thor Industries, Inc. (NYSE:THO) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Thor Industries, Inc. (NYSE:THO) was held by 28 hedge fund portfolios at the end of the second quarter compared to 26 in the previous quarter.

We discussed Thor Industries, Inc. (NYSE:THO) in another article and shared Heartland Advisors’ views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.