First Merchants Corp Has $1.17 Million Position in Polaris Industries Inc. (PII)

First Merchants Corp cut its stake in Polaris Industries Inc. (NYSE:PII) by 51.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,655 shares of the company’s stock after selling 13,295 shares during the period. First Merchants Corp’s holdings in Polaris Industries were worth $1,167,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Polaris Industries by 3,542.9% in the first quarter. BlackRock Inc. now owns 5,359,600 shares of the company’s stock valued at $449,135,000 after buying an additional 5,212,474 shares in the last quarter. Vanguard Group Inc. boosted its stake in Polaris Industries by 3.6% in the first quarter. Vanguard Group Inc. now owns 5,304,020 shares of the company’s stock valued at $444,478,000 after buying an additional 184,995 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Polaris Industries by 3.3% in the first quarter. Wells Fargo & Company MN now owns 3,492,115 shares of the company’s stock valued at $292,639,000 after buying an additional 111,872 shares in the last quarter. Janus Capital Management LLC boosted its stake in Polaris Industries by 36.6% in the first quarter. Janus Capital Management LLC now owns 2,344,287 shares of the company’s stock valued at $196,447,000 after buying an additional 627,535 shares in the last quarter. Finally, Kiltearn Partners LLP boosted its stake in Polaris Industries by 356.1% in the first quarter. Kiltearn Partners LLP now owns 1,741,176 shares of the company’s stock valued at $145,911,000 after buying an additional 1,359,430 shares in the last quarter. 93.65% of the stock is owned by institutional investors.

Polaris Industries Inc. (NYSE:PII) opened at 89.32 on Friday. The stock has a market capitalization of $5.59 billion, a PE ratio of 37.36 and a beta of 1.31. The firm has a 50-day moving average of $90.40 and a 200 day moving average of $87.01. Polaris Industries Inc. has a one year low of $70.14 and a one year high of $99.16.

Polaris Industries (NYSE:PII) last released its quarterly earnings results on Thursday, July 20th. The company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Polaris Industries had a return on equity of 26.47% and a net margin of 3.13%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts anticipate that Polaris Industries Inc. will post $4.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Wednesday, August 30th. Polaris Industries’s dividend payout ratio (DPR) is presently 97.07%.

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Several analysts have recently weighed in on the stock. Wedbush restated a “neutral” rating and set a $75.00 price objective on shares of Polaris Industries in a research report on Tuesday, June 6th. BidaskClub cut shares of Polaris Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BMO Capital Markets reiterated a “buy” rating and issued a $100.00 target price on shares of Polaris Industries in a research report on Thursday, April 27th. TheStreet upgraded shares of Polaris Industries from a “c” rating to a “b-” rating in a research report on Thursday, July 20th. Finally, Zacks Investment Research cut shares of Polaris Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 29th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $88.13.

About Polaris Industries

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.

Institutional Ownership by Quarter for Polaris Industries (NYSE:PII)

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