Price Capital Management Inc. purchased a new stake in shares of Polaris Industries Inc. (NYSE:PII) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,507 shares of the company’s stock, valued at approximately $1,551,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. ING Groep NV bought a new stake in shares of Polaris Industries during the 4th quarter valued at about $1,088,000. DSAM Partners London Ltd bought a new stake in shares of Polaris Industries during the 4th quarter valued at about $992,000. Cadence Capital Management LLC grew its stake in shares of Polaris Industries by 142.3% during the 4th quarter. Cadence Capital Management LLC now owns 17,518 shares of the company’s stock valued at $2,172,000 after purchasing an additional 10,287 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Polaris Industries by 211.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 19,703 shares of the company’s stock valued at $2,443,000 after purchasing an additional 13,377 shares during the period. Finally, First Mercantile Trust Co. bought a new stake in shares of Polaris Industries during the 4th quarter valued at about $222,000. Institutional investors and hedge funds own 91.16% of the company’s stock.
Polaris Industries Inc. (NYSE PII) opened at $110.22 on Friday. The stock has a market capitalization of $6,970.96, a P/E ratio of 23.03, a P/E/G ratio of 1.21 and a beta of 1.27. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 1.11. Polaris Industries Inc. has a 52 week low of $77.91 and a 52 week high of $137.66.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a $0.60 dividend. The ex-dividend date is Wednesday, February 28th. This is a boost from Polaris Industries’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a yield of 2.18%. Polaris Industries’s payout ratio is currently 86.25%.
In related news, insider Stephen L. Eastman sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $127.72, for a total value of $191,580.00. Following the transaction, the insider now directly owns 8,846 shares of the company’s stock, valued at approximately $1,129,811.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James P. Williams sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $127.08, for a total value of $2,541,600.00. Following the completion of the transaction, the senior vice president now directly owns 22,664 shares in the company, valued at $2,880,141.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,602 shares of company stock worth $2,741,836. 2.20% of the stock is owned by insiders.
A number of research firms have issued reports on PII. Wells Fargo & Co upgraded Polaris Industries from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Citigroup cut their price target on Polaris Industries from $136.00 to $129.00 and set a “buy” rating for the company in a research note on Tuesday. Zacks Investment Research upgraded Polaris Industries from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research note on Friday, February 2nd. B. Riley reiterated a “hold” rating and set a $118.00 price objective on shares of Polaris Industries in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada upgraded Polaris Industries to a “sector perform” rating and set a $113.00 price objective for the company in a research note on Wednesday, January 31st. They noted that the move was a valuation call. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Polaris Industries presently has a consensus rating of “Hold” and an average price target of $112.50.
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Polaris Industries 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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