14,300 Shares in Acushnet Holdings Corp. (NYSE:GOLF) Acquired by Strs Ohio

Strs Ohio acquired a new position in Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,300 shares of the company’s stock, valued at approximately $621,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Acushnet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,126,762 shares of the company’s stock worth $125,883,000 after buying an additional 24,312 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Acushnet by 6.1% in the second quarter. JPMorgan Chase & Co. now owns 2,307,902 shares of the company’s stock worth $96,194,000 after purchasing an additional 133,079 shares during the period. Dimensional Fund Advisors LP lifted its position in Acushnet by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,530,671 shares of the company’s stock worth $61,630,000 after purchasing an additional 64,464 shares during the period. Victory Capital Management Inc. lifted its position in Acushnet by 8.8% in the second quarter. Victory Capital Management Inc. now owns 1,437,750 shares of the company’s stock worth $59,925,000 after purchasing an additional 116,287 shares during the period. Finally, Macquarie Group Ltd. lifted its position in Acushnet by 21.1% in the second quarter. Macquarie Group Ltd. now owns 1,306,948 shares of the company’s stock worth $54,474,000 after purchasing an additional 228,162 shares during the period. 49.39% of the stock is owned by institutional investors.

Insider Buying and Selling at Acushnet

In other news, insider Steven Francis Pelisek sold 700 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $44.00, for a total value of $30,800.00. Following the transaction, the insider now directly owns 132,408 shares of the company’s stock, valued at $5,825,952. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 53.00% of the company’s stock.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $48.28 on Wednesday. The company’s fifty day moving average is $45.11 and its two-hundred day moving average is $46.37. The company has a quick ratio of 1.10, a current ratio of 2.17 and a debt-to-equity ratio of 0.39. Acushnet Holdings Corp. has a 12-month low of $37.46 and a 12-month high of $53.94. The company has a market cap of $3.39 billion, a P/E ratio of 20.37 and a beta of 0.75.

Acushnet (NYSE:GOLF – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.13. Acushnet had a net margin of 7.80% and a return on equity of 16.12%. The company had revenue of $558.20 million for the quarter, compared to the consensus estimate of $517.42 million. During the same period in the previous year, the business earned $0.52 EPS. The company’s revenue was up 7.0% on a year-over-year basis. Equities analysts expect that Acushnet Holdings Corp. will post 2.69 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, December 1st. Acushnet’s dividend payout ratio (DPR) is currently 30.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GOLF shares. Roth Capital downgraded Acushnet from a “buy” rating to a “neutral” rating and cut their target price for the stock from $62.00 to $45.00 in a research report on Tuesday, October 18th. Morgan Stanley cut their target price on Acushnet from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, November 7th. Truist Financial cut their target price on Acushnet from $50.00 to $48.00 and set a “hold” rating for the company in a research report on Wednesday, October 5th. StockNews.com downgraded Acushnet from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Finally, JPMorgan Chase & Co. cut their price objective on Acushnet from $50.00 to $47.00 in a research report on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.14.

About Acushnet

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Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.