Polymer Capital Management US LLC Invests $427,000 in Polaris Inc. (NYSE:PII)

Polymer Capital Management US LLC bought a new position in Polaris Inc. (NYSE:PII - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,416 shares of the company's stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI grew its holdings in Polaris by 19.9% in the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company's stock worth $92,000 after acquiring an additional 183 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Polaris by 0.6% in the fourth quarter. Nordea Investment Management AB now owns 28,811 shares of the company's stock worth $1,676,000 after purchasing an additional 183 shares during the last quarter. Quarry LP increased its holdings in Polaris by 187.4% during the 3rd quarter. Quarry LP now owns 388 shares of the company's stock valued at $32,000 after purchasing an additional 253 shares during the period. Janney Montgomery Scott LLC increased its holdings in Polaris by 7.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company's stock valued at $208,000 after purchasing an additional 263 shares during the period. Finally, Xponance Inc. lifted its holdings in Polaris by 5.1% in the 4th quarter. Xponance Inc. now owns 5,956 shares of the company's stock worth $343,000 after buying an additional 288 shares during the period. 88.06% of the stock is currently owned by institutional investors.

Polaris Stock Up 2.4 %

PII stock traded up $0.79 during trading on Friday, hitting $34.19. 2,451,768 shares of the stock traded hands, compared to its average volume of 1,058,731. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 13.95 and a beta of 1.32. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. Polaris Inc. has a 1 year low of $30.92 and a 1 year high of $92.35. The firm's 50 day moving average is $42.35 and its two-hundred day moving average is $57.61.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. On average, sell-side analysts anticipate that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.68 annualized dividend and a yield of 7.84%. This is a boost from Polaris's previous quarterly dividend of $0.66. Polaris's dividend payout ratio is currently 136.73%.

Analyst Upgrades and Downgrades

PII has been the topic of several research analyst reports. Truist Financial reduced their target price on Polaris from $60.00 to $55.00 and set a "hold" rating on the stock in a research note on Wednesday, January 29th. BMO Capital Markets decreased their price objective on shares of Polaris from $60.00 to $50.00 and set a "market perform" rating for the company in a report on Wednesday, January 29th. KeyCorp downgraded shares of Polaris from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, January 8th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $54.00 price objective on shares of Polaris in a research report on Monday, March 17th. Finally, Citigroup lowered Polaris from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $49.00 to $33.00 in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Polaris presently has a consensus rating of "Hold" and an average target price of $52.91.

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.