Strs Ohio Takes $890,000 Position in Acushnet Holdings Corp. (NYSE:GOLF)

Strs Ohio purchased a new position in Acushnet Holdings Corp. (NYSE:GOLF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,100 shares of the company’s stock, valued at approximately $890,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FSC Wealth Advisors LLC purchased a new position in Acushnet in the third quarter worth about $37,000. First Horizon Advisors Inc. lifted its position in Acushnet by 43.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock valued at $38,000 after acquiring an additional 215 shares in the last quarter. GW Henssler & Associates Ltd. bought a new position in Acushnet in the 3rd quarter valued at approximately $201,000. O Shaughnessy Asset Management LLC purchased a new stake in Acushnet during the 3rd quarter valued at $224,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Acushnet in the 3rd quarter worth $229,000. Institutional investors own 53.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GOLF. Truist Financial increased their price objective on Acushnet from $55.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. KeyCorp boosted their price objective on shares of Acushnet from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Acushnet presently has a consensus rating of “Moderate Buy” and an average target price of $66.71.

Acushnet Trading Down 2.6 %

Shares of Acushnet stock opened at $63.14 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 0.84. The stock has a market capitalization of $4.00 billion, a PE ratio of 21.85 and a beta of 0.87. Acushnet Holdings Corp. has a 1-year low of $43.62 and a 1-year high of $70.10. The company’s fifty day simple moving average is $64.56 and its 200-day simple moving average is $61.17.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). Acushnet had a return on equity of 20.09% and a net margin of 8.33%. The company had revenue of $413.00 million during the quarter, compared to analysts’ expectations of $429.16 million. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that Acushnet Holdings Corp. will post 3.17 earnings per share for the current year.

Acushnet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $0.215 dividend. This is a positive change from Acushnet’s previous quarterly dividend of $0.20. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, March 7th. Acushnet’s dividend payout ratio is presently 29.76%.

Insider Activity

In related news, insider Brendan J. Reidy sold 9,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total value of $580,410.00. Following the completion of the transaction, the insider now owns 58,588 shares of the company’s stock, valued at approximately $3,778,340.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Acushnet news, insider Brendan J. Reidy sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total value of $580,410.00. Following the completion of the transaction, the insider now directly owns 58,588 shares in the company, valued at approximately $3,778,340.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the sale, 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. Insiders own 54.10% of the company’s stock.

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.