Dynamic Technology Lab Private Ltd Takes Position in Acushnet Holdings Corp. (NYSE:GOLF)

Dynamic Technology Lab Private Ltd bought a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 17,958 shares of the company’s stock, valued at approximately $1,134,000.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in Acushnet during the 4th quarter valued at $21,945,000. International Assets Investment Management LLC acquired a new stake in shares of Acushnet during the 4th quarter worth about $9,318,000. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Acushnet by 32.3% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 386,443 shares of the company’s stock worth $20,497,000 after buying an additional 94,253 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Acushnet by 8.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 965,654 shares of the company’s stock worth $51,221,000 after buying an additional 71,263 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in Acushnet by 284.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 78,636 shares of the company’s stock valued at $4,171,000 after buying an additional 58,195 shares during the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider John Francis Duke, Jr. sold 17,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $64.32, for a total value of $1,093,440.00. Following the transaction, the insider now owns 130,472 shares in the company, valued at $8,391,959.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Acushnet news, insider Brendan J. Reidy sold 9,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total transaction of $580,410.00. Following the completion of the sale, the insider now directly owns 58,588 shares in the company, valued at $3,778,340.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction on Friday, March 8th. The shares were sold at an average price of $64.32, for a total value of $1,093,440.00. Following the completion of the transaction, the insider now owns 130,472 shares in the company, valued at approximately $8,391,959.04. The disclosure for this sale can be found here. Corporate insiders own 54.60% of the company’s stock.

Acushnet Price Performance

NYSE:GOLF opened at $64.10 on Tuesday. Acushnet Holdings Corp. has a 52 week low of $43.62 and a 52 week high of $70.10. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.46 and a current ratio of 2.69. The firm’s 50-day simple moving average is $63.31 and its 200 day simple moving average is $62.60. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 22.26 and a beta of 0.88.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.03). The business had revenue of $413.00 million for the quarter, compared to the consensus estimate of $429.16 million. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that Acushnet Holdings Corp. will post 3.11 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.86 annualized dividend and a yield of 1.34%. Acushnet’s dividend payout ratio is presently 29.86%.

Analyst Ratings Changes

Separately, Truist Financial boosted their price objective on Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.86.

Acushnet Profile

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.