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

Strs Ohio acquired a new position in Acushnet Holdings Corp. (NYSE:GOLFGet 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:GOLFGet 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

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding GOLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acushnet Holdings Corp. (NYSE:GOLFGet Rating).

Institutional Ownership by Quarter for Acushnet (NYSE:GOLF)

Receive News & Ratings for Acushnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acushnet and related companies with MarketBeat.com's FREE daily email newsletter.