Van ECK Associates Corp Has $3.41 Million Holdings in Polaris Inc. (NYSE:PII)

Van ECK Associates Corp grew its stake in Polaris Inc. (NYSE:PII - Free Report) by 35.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,966 shares of the company's stock after acquiring an additional 10,664 shares during the quarter. Van ECK Associates Corp owned 0.07% of Polaris worth $3,410,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PII. Vanguard Group Inc. raised its holdings in Polaris by 1.6% during the 1st 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 during the period. Dimensional Fund Advisors LP raised its holdings in Polaris by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company's stock worth $76,994,000 after buying an additional 96,194 shares during the period. American Century Companies Inc. raised its holdings in Polaris by 311.6% during the 2nd quarter. American Century Companies Inc. now owns 387,012 shares of the company's stock worth $30,307,000 after buying an additional 292,992 shares during the period. ProShare Advisors LLC raised its holdings in Polaris by 11.1% during the 2nd quarter. ProShare Advisors LLC now owns 359,039 shares of the company's stock worth $28,116,000 after buying an additional 35,952 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Polaris by 12.0% during the 2nd quarter. AQR Capital Management LLC now owns 290,539 shares of the company's stock worth $22,706,000 after buying an additional 31,081 shares during the period. 88.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup dropped their target price on shares of Polaris from $86.00 to $83.00 and set a "neutral" rating on the stock in a report on Wednesday, July 24th. BMO Capital Markets lowered their price objective on shares of Polaris from $90.00 to $75.00 and set a "market perform" rating on the stock in a report on Wednesday, July 24th. Longbow Research reiterated a "neutral" rating on shares of Polaris in a report on Wednesday, July 24th. KeyCorp lowered their price objective on shares of Polaris from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Polaris from a "hold" rating to a "sell" rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $87.09.

Polaris Stock Down 1.2 %

PII traded down $0.85 during trading on Friday, reaching $68.93. 894,540 shares of the stock were exchanged, compared to its average volume of 819,313. The stock has a market cap of $3.84 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 7.20 and a beta of 1.52. Polaris Inc. has a twelve month low of $68.45 and a twelve month high of $100.91. The stock's 50 day moving average price is $78.92 and its two-hundred day moving average price is $80.40. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing analysts' consensus estimates of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm earned $2.71 earnings per share. The company's revenue for the quarter was down 23.4% compared to the same quarter last year. Equities analysts expect that Polaris Inc. will post 3.22 EPS for the current year.

Polaris Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.66 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.83%. Polaris's payout ratio is presently 73.74%.

Polaris Company 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.