Dimensional Fund Advisors LP Boosts Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Dimensional Fund Advisors LP lifted its holdings in Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,693,716 shares of the company’s stock after buying an additional 46,940 shares during the period. Dimensional Fund Advisors LP’s holdings in Acushnet were worth $71,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOLF. Vanguard Group Inc. increased its position in Acushnet by 0.8% during the first quarter. Vanguard Group Inc. now owns 3,126,762 shares of the company’s stock worth $125,883,000 after purchasing an additional 24,312 shares during the last quarter. State Street Corp increased its position in Acushnet by 3.6% during the first quarter. State Street Corp now owns 694,189 shares of the company’s stock worth $27,948,000 after purchasing an additional 23,816 shares during the last quarter. Invesco Ltd. increased its position in Acushnet by 8.6% during the first quarter. Invesco Ltd. now owns 492,422 shares of the company’s stock worth $19,825,000 after purchasing an additional 39,009 shares during the last quarter. London Co. of Virginia increased its position in Acushnet by 0.5% during the third quarter. London Co. of Virginia now owns 405,924 shares of the company’s stock worth $17,654,000 after purchasing an additional 1,963 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Acushnet by 53.9% during the first quarter. First Trust Advisors LP now owns 354,722 shares of the company’s stock worth $14,281,000 after purchasing an additional 124,282 shares during the last quarter. 49.39% of the stock is owned by hedge funds and other institutional investors.

Acushnet Stock Performance

Shares of Acushnet stock opened at $44.37 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.73 and a quick ratio of 1.35. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 14.84 and a beta of 0.80. The firm’s fifty day simple moving average is $49.16 and its 200-day simple moving average is $47.67. Acushnet Holdings Corp. has a 12 month low of $38.34 and a 12 month high of $54.11.

Acushnet (NYSE:GOLF – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.27. Acushnet had a net margin of 9.08% and a return on equity of 20.56%. The business had revenue of $686.30 million for the quarter, compared to analysts’ expectations of $631.12 million. During the same period in the prior year, the company posted $1.10 EPS. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, equities analysts forecast that Acushnet Holdings Corp. will post 2.91 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be given a $0.195 dividend. The ex-dividend date is Thursday, June 1st. This represents a $0.78 annualized dividend and a dividend yield of 1.76%. Acushnet’s dividend payout ratio is presently 26.09%.

Insider Buying and Selling

In related news, insider Mary Louise Bohn sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $51.42, for a total value of $1,542,600.00. Following the transaction, the insider now owns 185,955 shares in the company, valued at $9,561,806.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Christopher Aaron Lindner sold 15,000 shares of Acushnet stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $52.15, for a total value of $782,250.00. Following the completion of the sale, the insider now owns 92,255 shares in the company, valued at $4,811,098.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mary Louise Bohn sold 30,000 shares of Acushnet stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $51.42, for a total transaction of $1,542,600.00. Following the completion of the sale, the insider now owns 185,955 shares of the company’s stock, valued at approximately $9,561,806.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,000 shares of company stock valued at $3,363,250. Insiders own 54.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Acushnet in a research report on Thursday, May 18th. They set a “hold” rating for the company. Compass Point cut shares of Acushnet from a “buy” rating to a “neutral” rating and dropped their price target for the company from $65.00 to $55.00 in a research report on Tuesday, March 14th. Tigress Financial upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and lifted their price target for the company from $50.00 to $62.00 in a research report on Tuesday, March 14th. Stephens reiterated an “equal weight” rating and set a $53.00 price target on shares of Acushnet in a research report on Thursday, April 6th. Finally, Morgan Stanley lifted their price target on shares of Acushnet from $50.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, March 3rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Acushnet has an average rating of “Hold” and a consensus price target of $52.63.

Acushnet Profile

(Get Rating)

Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of performance-driven golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment is involved in the design and manufacture of golf balls.