Bank of New York Mellon Corp Sells 41,591 Shares of Polaris Industries Inc. (PII)
Bank of New York Mellon Corp cut its stake in shares of Polaris Industries Inc. (NYSE:PII) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 856,538 shares of the company’s stock after selling 41,591 shares during the period. Bank of New York Mellon Corp owned approximately 1.37% of Polaris Industries worth $79,000,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PII. IFP Advisors Inc boosted its stake in shares of Polaris Industries by 1.0% in the second quarter. IFP Advisors Inc now owns 1,274 shares of the company’s stock valued at $118,000 after buying an additional 13 shares during the last quarter. Sheets Smith Wealth Management boosted its stake in shares of Polaris Industries by 0.6% in the second quarter. Sheets Smith Wealth Management now owns 2,454 shares of the company’s stock valued at $226,000 after buying an additional 14 shares during the last quarter. CAPROCK Group Inc. boosted its stake in shares of Polaris Industries by 0.5% in the second quarter. CAPROCK Group Inc. now owns 4,990 shares of the company’s stock valued at $460,000 after buying an additional 27 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Polaris Industries by 0.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,071 shares of the company’s stock valued at $760,000 after buying an additional 35 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Polaris Industries by 0.5% in the first quarter. Private Advisor Group LLC now owns 8,355 shares of the company’s stock valued at $673,000 after buying an additional 40 shares during the last quarter. 95.12% of the stock is owned by hedge funds and other institutional investors.
Polaris Industries Inc. (PII) opened at 93.67 on Tuesday. The stock has a market capitalization of $5.86 billion, a PE ratio of 39.18 and a beta of 1.31. The stock’s 50 day moving average price is $90.64 and its 200-day moving average price is $87.30. Polaris Industries Inc. has a 12-month low of $70.14 and a 12-month high of $99.16.
Polaris Industries (NYSE:PII) last posted its earnings results on Thursday, July 20th. The company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.08. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.26 billion. Polaris Industries had a net margin of 3.13% and a return on equity of 26.47%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. Analysts expect that Polaris Industries Inc. will post $4.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, August 30th. Polaris Industries’s payout ratio is 97.07%.
PII has been the subject of several analyst reports. TheStreet upgraded Polaris Industries from a “c” rating to a “b-” rating in a report on Thursday, July 20th. Zacks Investment Research upgraded Polaris Industries from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Wednesday, July 19th. BMO Capital Markets restated a “buy” rating and issued a $100.00 target price on shares of Polaris Industries in a report on Monday, June 5th. BidaskClub upgraded Polaris Industries from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Lake Street Capital upped their target price on Polaris Industries from $102.00 to $106.00 and gave the company a “buy” rating in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $88.13.
In other Polaris Industries news, CEO Scott W. Wine bought 1,293 shares of the stock in a transaction on Friday, August 18th. The shares were purchased at an average cost of $88.81 per share, with a total value of $114,831.33. Following the completion of the transaction, the chief executive officer now directly owns 317,000 shares of the company’s stock, valued at approximately $28,152,770. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.
Polaris Industries Company Profile
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include 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, including Work and Transportation and military vehicles.
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