Hotchkis & Wiley Capital Management LLC Acquires New Position in Polaris Inc. (NYSE:PII)

Hotchkis & Wiley Capital Management LLC bought a new position in Polaris Inc. (NYSE:PII) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 152,208 shares of the company’s stock, valued at approximately $12,670,000. Hotchkis & Wiley Capital Management LLC owned about 0.27% of Polaris as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PII. Kiltearn Partners LLP boosted its stake in Polaris by 147.9% during the 3rd quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock valued at $12,877,000 after purchasing an additional 92,300 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Polaris by 167.1% during the third quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock valued at $3,643,000 after buying an additional 27,375 shares during the last quarter. Savoir Faire Capital Management L.P. bought a new stake in Polaris in the 2nd quarter worth about $757,000. Dimensional Fund Advisors LP raised its position in Polaris by 10.8% in 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 last quarter. Finally, ARGA Investment Management LP lifted its stake in Polaris by 42.8% during 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 period. Institutional investors own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Polaris Stock Performance

NYSE PII opened at $67.44 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. Polaris Inc. has a twelve month low of $64.56 and a twelve month high of $100.91. The business has a 50-day moving average price of $74.37 and a 200-day moving average price of $78.41. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 7.09 and a beta of 1.51.

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

Polaris Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.64 annualized dividend and a yield of 3.91%. 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.