Midas Management Corp cut its stake in shares of Polaris Industries Inc. (NYSE:PII) by 14.9% during the second quarter, Holdings Channel reports. The firm owned 22,800 shares of the company’s stock after selling 4,000 shares during the period. Polaris Industries comprises approximately 1.1% of Midas Management Corp’s investment portfolio, making the stock its 21st largest position. Midas Management Corp’s holdings in Polaris Industries were worth $1,864,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PII. Advisory Services Network LLC increased its position in shares of Polaris Industries by 46.5% in the second quarter. Advisory Services Network LLC now owns 2,175 shares of the company’s stock valued at $178,000 after buying an additional 690 shares during the period. GWM Advisors LLC purchased a new position in shares of Polaris Industries during the second quarter valued at $203,000. Atria Investments LLC purchased a new position in shares of Polaris Industries during the second quarter valued at $223,000. Canada Pension Plan Investment Board increased its position in shares of Polaris Industries by 27.8% in the first quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $227,000 after buying an additional 500 shares during the period. Finally, JNBA Financial Advisors increased its position in shares of Polaris Industries by 52.4% in the second quarter. JNBA Financial Advisors now owns 3,200 shares of the company’s stock valued at $262,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 88.27% of the company’s stock.
Shares of Polaris Industries Inc. (NYSE:PII) traded up 0.45% during trading on Friday, reaching $75.79. 714,450 shares of the company were exchanged. The stock has a 50-day moving average of $78.15 and a 200 day moving average of $87.23. The stock has a market capitalization of $4.86 billion, a P/E ratio of 13.09 and a beta of 1.46. Polaris Industries Inc. has a 52-week low of $67.80 and a 52-week high of $124.39.
Polaris Industries (NYSE:PII) last posted its quarterly 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. Polaris Industries had a net margin of 8.21% and a return on equity of 40.69%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company earned $1.49 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Polaris Industries Inc. will post $3.58 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.20 dividend on an annualized basis and a yield of 2.90%. Polaris Industries’s dividend payout ratio is currently 38.19%.
Several research analysts have recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Polaris Industries from $84.00 to $88.00 and gave the company a “sector perform” rating in a research note on Thursday, July 21st. Sanford C. Bernstein began coverage on shares of Polaris Industries in a report on Thursday, September 8th. They issued a “market perform” rating and a $87.00 price target on the stock. Zacks Investment Research cut shares of Polaris Industries from a “hold” rating to a “sell” rating in a report on Thursday, June 23rd. KeyCorp cut shares of Polaris Industries from an “overweight” rating to a “sector weight” rating in a report on Monday, September 12th. Finally, RBC Capital Markets reaffirmed a “hold” rating and issued a $88.00 price target on shares of Polaris Industries in a report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $83.60.
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.