Arizona State Retirement System Raises Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Arizona State Retirement System increased its stake in Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,040 shares of the company’s stock after purchasing an additional 227 shares during the quarter. Arizona State Retirement System’s holdings in Acushnet were worth $426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOLF. State Board of Administration of Florida Retirement System increased its holdings in Acushnet by 2.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 37,670 shares of the company’s stock valued at $1,599,000 after buying an additional 970 shares in the last quarter. Duality Advisers LP acquired a new position in Acushnet during the fourth quarter worth $765,000. Commonwealth Equity Services LLC raised its holdings in Acushnet by 9.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 5,177 shares of the company’s stock worth $219,000 after purchasing an additional 441 shares during the last quarter. LPL Financial LLC boosted its position in Acushnet by 8.0% during the fourth quarter. LPL Financial LLC now owns 9,192 shares of the company’s stock worth $390,000 after purchasing an additional 683 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Acushnet by 100.2% in the fourth quarter. SG Americas Securities LLC now owns 13,066 shares of the company’s stock valued at $555,000 after purchasing an additional 6,539 shares during the last quarter. Institutional investors and hedge funds own 49.39% of the company’s stock.

Acushnet Stock Down 4.6 %

Shares of NYSE:GOLF opened at $44.16 on Friday. The company has a current ratio of 2.73, a quick ratio of 1.35 and a debt-to-equity ratio of 0.77. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 14.77 and a beta of 0.80. The stock’s 50-day moving average price is $49.60 and its two-hundred day moving average price is $47.70. Acushnet Holdings Corp. has a 12-month low of $37.46 and a 12-month high of $54.11.

Acushnet (NYSE:GOLF – Get Rating) last released its earnings results on Thursday, May 4th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned $1.10 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. On average, research analysts forecast that Acushnet Holdings Corp. will post 2.91 EPS for the current year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Thursday, June 1st. Acushnet’s payout ratio is currently 26.09%.

Insider Buying and Selling at Acushnet

In other news, insider Thomas Pacheco sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $51.92, for a total value of $1,038,400.00. Following the transaction, the insider now directly owns 60,368 shares in the company, valued at approximately $3,134,306.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Thomas Pacheco sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $51.92, for a total value of $1,038,400.00. Following the transaction, the insider now owns 60,368 shares in the company, valued at $3,134,306.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mary Louise Bohn sold 30,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 185,955 shares of the company’s stock, valued at $9,561,806.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,000 shares of company stock valued at $3,363,250. Company insiders own 54.10% of the company’s stock.

Wall Street Analyst Weigh In

GOLF has been the topic of several recent research reports. Compass Point lowered shares of Acushnet from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $65.00 to $55.00 in a research report on Tuesday, March 14th. StockNews.com initiated coverage on shares of Acushnet in a research report on Thursday. They issued a “hold” rating on the stock. Tigress Financial upgraded Acushnet from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $62.00 in a research report on Tuesday, March 14th. Stephens reaffirmed an “equal weight” rating and issued a $53.00 target price on shares of Acushnet in a research note on Thursday, April 6th. Finally, 92 Resources reissued a “maintains” rating on shares of Acushnet in a research report on Monday, May 8th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.63.

Acushnet Profile

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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.