Will THOR Industries (THO) be Able to Emerge in a Strong Position?
Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” second-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund (Class Y) declined 4.30% compared to a 3.35% decrease for the Russell Midcap Index. The Fund returned 4.91%, in the year-to-date six months, compared to 4.96% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Madison Mid Cap Fund highlighted stocks like THOR Industries, Inc. (NYSE:THO), in the second quarter 2024 investor letter. THOR Industries, Inc. (NYSE:THO) designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories. The one-month return of THOR Industries, Inc. (NYSE:THO) was 12.65%, and its shares lost 9.95% of their value over the last 52 weeks. On July 22, 2024, THOR Industries, Inc. (NYSE:THO) stock closed at $100.18 per share with a market capitalization of $5.329 billion.
Madison Mid Cap Fund stated the following regarding THOR Industries, Inc. (NYSE:THO) in its Q2 2024 investor letter:
We also made two adds and two trims during the quarter. We added to Brown-Forman and THOR Industries, Inc. (NYSE:THO). A high interest rate environment has taken its toll on RV sales and the industry leader, Thor Industries. We are confident that management is making the right decisions to weather this storm and emerge in a stronger position.
A family of four exploring a scenic mountain range in a recreational vehicle.
THOR Industries, Inc. (NYSE:THO) is not on our list of 31 Most Popular Stocks Among Hedge Funds. THOR Industries, Inc. (NYSE:THO) was held by 23 hedge fund portfolios at the end of the first quarter, compared to 21 in the previous quarter, according to our database. While we acknowledge the potential of THOR Industries, Inc. (NYSE:THO) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed THOR Industries, Inc. (NYSE:THO) and shared the list of best RV and camping stocks to invest in. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.