Polaris Industries Inc. (PII) Shares Bought by First Merchants Corp
First Merchants Corp raised its position in shares of Polaris Industries Inc. (NYSE:PII) by 51.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,858 shares of the company’s stock after buying an additional 6,778 shares during the period. First Merchants Corp’s holdings in Polaris Industries were worth $1,623,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its stake in Polaris Industries by 78.1% in the first quarter. State Street Corp now owns 3,547,404 shares of the company’s stock worth $349,351,000 after buying an additional 1,555,422 shares during the period. Norges Bank acquired a new stake in Polaris Industries during the fourth quarter worth about $49,347,000. Southernsun Asset Management LLC raised its stake in Polaris Industries by 28.3% in the first quarter. Southernsun Asset Management LLC now owns 2,189,770 shares of the company’s stock worth $215,649,000 after buying an additional 483,351 shares during the period. Friess Associates LLC acquired a new stake in Polaris Industries during the first quarter worth about $14,477,000. Finally, Virginia Retirement System acquired a new stake in Polaris Industries during the first quarter worth about $12,173,000. 88.48% of the stock is currently owned by hedge funds and other institutional investors.
Polaris Industries Inc. (NYSE:PII) traded down 0.65% during midday trading on Tuesday, hitting $71.52. The stock had a trading volume of 1,691,905 shares. Polaris Industries Inc. has a 52 week low of $67.80 and a 52 week high of $126.36. The company’s 50-day moving average price is $87.46 and its 200 day moving average price is $89.74. The company has a market capitalization of $4.58 billion, a PE ratio of 12.35 and a beta of 1.42.
Polaris Industries (NYSE:PII) last announced its earnings results on Wednesday, July 20th. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. Polaris Industries had a return on equity of 40.69% and a net margin of 8.21%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.49 earnings per share. On average, analysts expect that Polaris Industries Inc. will post $3.84 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Tuesday, August 30th. Polaris Industries’s dividend payout ratio is currently 38.19%.
Several analysts have recently weighed in on PII shares. Northcoast Research lowered Polaris Industries from a “buy” rating to a “neutral” rating in a report on Wednesday, August 31st. Longbow Research lowered Polaris Industries from a “neutral” rating to an “underperform” rating and set a $70.00 price objective on the stock. in a report on Friday, June 10th. Citigroup Inc. lifted their price objective on Polaris Industries from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, August 29th. Sanford C. Bernstein started coverage on Polaris Industries in a report on Thursday, September 8th. They set a “market perform” rating and a $87.00 price objective on the stock. Finally, Royal Bank Of Canada decreased their price objective on Polaris Industries from $97.00 to $84.00 and set a “sector perform” rating on the stock in a report on Friday, July 1st. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $84.52.
Polaris Industries Company Profile
Polaris Industries Inc (Polaris) designs, engineers and manufactures off-road vehicles (ORV), including all-terrain vehicles (ATV) and side-by-side vehicles for recreational and utility use, snowmobiles, motorcycles and global adjacent markets vehicles, together with the related parts, garments and accessories.
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