Weiss Asset Management LP Takes $10.84 Million Position in Polaris Inc. (NYSE:PII)

Weiss Asset Management LP purchased a new position in shares of Polaris Inc. (NYSE:PII) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 130,275 shares of the company’s stock, valued at approximately $10,844,000. Weiss Asset Management LP owned 0.23% of Polaris at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PII. Kiltearn Partners LLP boosted its position in shares of Polaris by 147.9% during the third quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock valued at $12,877,000 after buying an additional 92,300 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Polaris by 167.1% during the 3rd quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock worth $3,643,000 after acquiring an additional 27,375 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Polaris by 8,867.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock valued at $5,322,000 after acquiring an additional 63,225 shares during the period. ARGA Investment Management LP grew its position in Polaris by 42.8% in the 3rd quarter. ARGA Investment Management LP now owns 35,162 shares of the company’s stock valued at $2,927,000 after acquiring an additional 10,539 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. bought a new stake in shares of Polaris during the second quarter valued at approximately $757,000. 88.06% of the stock is currently owned by institutional investors.

Polaris Stock Performance

NYSE:PII opened at $63.62 on Friday. The company has a fifty day moving average of $73.24 and a two-hundred day moving average of $78.10. Polaris Inc. has a fifty-two week low of $63.45 and a fifty-two week high of $100.91. The stock has a market capitalization of $3.55 billion, a PE ratio of 17.77, a P/E/G ratio of 7.05 and a beta of 1.51. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). Polaris had a net margin of 2.64% and a return on equity of 17.92%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business posted $2.71 earnings per share. The company’s quarterly revenue was down 23.4% compared to the same quarter last year. As a group, research analysts forecast that Polaris Inc. will post 3.22 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Monday, December 2nd. Polaris’s payout ratio is 73.74%.

Analysts Set New Price Targets

Several research firms have commented on PII. StockNews.com upgraded Polaris from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. KeyCorp decreased their target price on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. DA Davidson cut their price target on shares of Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Robert W. Baird decreased their price objective on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada decreased their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $87.09.

Polaris Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.