The number of outstanding Thor Industries Inc. stock shares doubled effective today (July 9) as a result of a 2-for-1 stock split approved by the RV and transit bus manufacturer’s board last month.
The stock split also resulted in Thor’s share price being cut in half. Thor’s stock closed at $71.97 a share in New York Stock Exchange trading Monday (July 8), but that closing price was adjusted to $35.99 a share, as a result of the stock split, which doubled the number of outstanding Thor shares to almost 28.5 million.
The 52-week high for Thor stock also was adjusted to $36.87 a share and the 52-week low was changed to $10.75 as a result of the stock split.
Thor’s board enacted the stock split because there are more potential buyers for a stock priced around $35 a share than there are for a stock priced at around $70 a share. More potential buyers improves shareholder liquidity, according to the company.
Thor is the manufacturer of several well-known RV brands including Airstream, Dutchmen, Four Winds and Keystone.