Amalgamated Bank Reduces Stake in Polaris Inc. (NYSE:PII)

Amalgamated Bank decreased its position in shares of Polaris Inc. (NYSE:PII - Free Report) by 25.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,533 shares of the company's stock after selling 8,521 shares during the quarter. Amalgamated Bank's holdings in Polaris were worth $2,042,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of Polaris by 311.6% in the 2nd quarter. American Century Companies Inc. now owns 387,012 shares of the company's stock valued at $30,307,000 after acquiring an additional 292,992 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. bought a new position in Polaris during the 2nd quarter worth $15,363,000. RWWM Inc. raised its stake in shares of Polaris by 192.3% during the second quarter. RWWM Inc. now owns 272,452 shares of the company's stock valued at $21,334,000 after acquiring an additional 179,244 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Polaris by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company's stock valued at $76,994,000 after acquiring an additional 96,194 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Polaris by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company's stock worth $590,924,000 after buying an additional 94,680 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on PII. Bank of America dropped their target price on shares of Polaris from $86.00 to $85.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 24th. KeyCorp decreased their price objective on shares of Polaris from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Roth Mkm dropped their price target on Polaris from $92.00 to $79.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 24th. Citigroup reduced their price objective on Polaris from $86.00 to $83.00 and set a "neutral" rating for the company in a research report on Wednesday, July 24th. Finally, DA Davidson reduced their target price on Polaris from $87.00 to $84.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Polaris presently has an average rating of "Hold" and a consensus target price of $87.09.

Polaris Stock Performance

PII traded down $2.44 on Tuesday, reaching $66.19. 578,974 shares of the stock were exchanged, compared to its average volume of 731,076. The firm has a market capitalization of $3.69 billion, a PE ratio of 19.17, a PEG ratio of 7.20 and a beta of 1.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. Polaris Inc. has a fifty-two week low of $66.06 and a fifty-two week high of $100.91. The company's 50-day moving average price is $78.60 and its 200 day moving average price is $80.29.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The company's revenue for the quarter was down 23.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 earnings per share. As a group, sell-side analysts forecast that Polaris Inc. will post 3.22 EPS for the current fiscal year.

Polaris Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Monday, December 2nd. Polaris's payout ratio is 73.74%.

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.