Sumitomo Mitsui Asset Management Company LTD Holds Position in Polaris Industries Inc. (NYSE:PII)
Sumitomo Mitsui Asset Management Company LTD maintained its stake in shares of Polaris Industries Inc. (NYSE:PII) during the second quarter, Holdings Channel reports. The fund owned 4,472 shares of the company’s stock at the end of the second quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Polaris Industries were worth $412,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Polaris Industries by 3,542.9% in the first quarter. BlackRock Inc. now owns 5,359,600 shares of the company’s stock valued at $449,135,000 after buying an additional 5,212,474 shares during the period. Vanguard Group Inc. increased its stake in shares of Polaris Industries by 3.6% in the first quarter. Vanguard Group Inc. now owns 5,304,020 shares of the company’s stock valued at $444,478,000 after buying an additional 184,995 shares during the period. Wells Fargo & Company MN increased its stake in shares of Polaris Industries by 3.3% in the first quarter. Wells Fargo & Company MN now owns 3,492,115 shares of the company’s stock valued at $292,639,000 after buying an additional 111,872 shares during the period. Janus Capital Management LLC increased its stake in shares of Polaris Industries by 36.6% in the first quarter. Janus Capital Management LLC now owns 2,344,287 shares of the company’s stock valued at $196,447,000 after buying an additional 627,535 shares during the period. Finally, Kiltearn Partners LLP increased its stake in shares of Polaris Industries by 356.1% in the first quarter. Kiltearn Partners LLP now owns 1,741,176 shares of the company’s stock valued at $145,911,000 after buying an additional 1,359,430 shares during the period. Hedge funds and other institutional investors own 93.98% of the company’s stock.
Polaris Industries Inc. (NYSE:PII) opened at 89.35 on Friday. Polaris Industries Inc. has a 1-year low of $70.14 and a 1-year high of $99.16. The company has a 50 day moving average of $90.63 and a 200 day moving average of $86.92. The company has a market capitalization of $5.59 billion, a PE ratio of 37.37 and a beta of 1.31.
Polaris Industries (NYSE:PII) last announced its quarterly earnings results on Thursday, July 20th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Polaris Industries had a return on equity of 29.46% and a net margin of 4.55%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. Polaris Industries’s revenue was up 20.7% compared to the same quarter last year. On average, analysts predict that Polaris Industries Inc. will post $4.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, August 30th. This represents a $2.32 annualized dividend and a yield of 2.60%. Polaris Industries’s dividend payout ratio (DPR) is currently 97.07%.
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PII has been the topic of several research analyst reports. Stifel Nicolaus restated a “hold” rating and set a $87.00 target price (up from $86.00) on shares of Polaris Industries in a report on Monday, July 24th. B. Riley restated a “neutral” rating and set a $82.00 target price on shares of Polaris Industries in a report on Friday, April 21st. Zacks Investment Research upgraded shares of Polaris Industries from a “strong sell” rating to a “hold” rating in a report on Saturday, April 15th. Royal Bank Of Canada restated a “hold” rating and set a $79.00 target price on shares of Polaris Industries in a report on Friday, June 9th. Finally, Longbow Research restated an “underperform” rating and set a $60.00 target price on shares of Polaris Industries in a report on Monday, July 17th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $86.87.
In related news, insider Matthew J. Homan sold 2,600 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $86.96, for a total transaction of $226,096.00. Following the completion of the sale, the insider now owns 20,871 shares in the company, valued at $1,814,942.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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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