BlueMountain Capital Management LLC decreased its holdings in Polaris Industries Inc. (NYSE:PII) by 21.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,002 shares of the company’s stock after selling 10,343 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Polaris Industries were worth $4,643,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of PII. Squar Milner Financial Services LLC acquired a new position in Polaris Industries in the 2nd quarter worth approximately $108,000. Well Done LLC acquired a new position in Polaris Industries in the 1st quarter worth approximately $128,000. Ostrum Asset Management acquired a new position in Polaris Industries in the 1st quarter worth approximately $135,000. IFM Investors Pty Ltd acquired a new position in Polaris Industries in the 1st quarter worth approximately $205,000. Finally, Engineers Gate Manager LP acquired a new position in Polaris Industries in the 2nd quarter worth approximately $208,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.
A number of research firms recently commented on PII. Citigroup raised their price objective on shares of Polaris Industries from $125.00 to $126.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Zacks Investment Research raised shares of Polaris Industries from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Tuesday, August 7th. Stephens set a $99.00 price objective on shares of Polaris Industries and gave the stock a “hold” rating in a research note on Friday, July 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $125.00 price objective on shares of Polaris Industries in a research note on Thursday, July 26th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $108.00 price objective on shares of Polaris Industries in a research note on Thursday, July 26th. Thirteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $116.46.
In related news, CEO Scott W. Wine bought 3,000 shares of the firm’s stock in a transaction on Friday, July 27th. The stock was bought at an average price of $104.09 per share, with a total value of $312,270.00. Following the purchase, the chief executive officer now directly owns 335,154 shares of the company’s stock, valued at approximately $34,886,179.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James P. Williams sold 14,750 shares of Polaris Industries stock in a transaction on Monday, June 11th. The shares were sold at an average price of $127.80, for a total transaction of $1,885,050.00. Following the sale, the senior vice president now directly owns 20,467 shares of the company’s stock, valued at approximately $2,615,682.60. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
Shares of NYSE:PII opened at $110.99 on Friday. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 1.15 and a beta of 0.98. Polaris Industries Inc. has a 12-month low of $97.00 and a 12-month high of $137.66. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.27 and a quick ratio of 0.44.
Polaris Industries (NYSE:PII) last issued its earnings results on Wednesday, July 25th. The company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.14. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. Polaris Industries had a net margin of 4.58% and a return on equity of 40.51%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. equities analysts forecast that Polaris Industries Inc. will post 6.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, August 30th. Polaris Industries’s dividend payout ratio (DPR) is currently 49.48%.
About Polaris Industries
Polaris Industries Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. The company operates through four segments: Off-Road Vehicles (ORVs)/Snowmobiles, Motorcycles, Global Adjacent Markets, and Aftermarket. It offers ORVs, including all-terrain vehicles and side-by-side vehicles for recreational and utility use; snowmobiles; motorcycles; and low emission, light duty hauling, passenger, commercial, and industrial vehicles, as well as snow bike conversion kit systems.
Further Reading: Fundamental Analysis and Individual Investors
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