Strs Ohio Acquires New Shares in Acushnet Holdings Corp. (NYSE:GOLF)

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

Several other large investors have also modified their holdings of GOLF. Ameriprise Financial Inc. raised its holdings in Acushnet by 8.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 965,654 shares of the company’s stock valued at $51,221,000 after buying an additional 71,263 shares during the period. Invesco Ltd. raised its stake in shares of Acushnet by 1.6% in the 3rd quarter. Invesco Ltd. now owns 545,158 shares of the company’s stock valued at $28,915,000 after acquiring an additional 8,687 shares during the period. London Co. of Virginia raised its stake in shares of Acushnet by 1.1% in the 3rd quarter. London Co. of Virginia now owns 396,096 shares of the company’s stock valued at $21,009,000 after acquiring an additional 4,208 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Acushnet by 32.3% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 386,443 shares of the company’s stock worth $20,497,000 after acquiring an additional 94,253 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Acushnet by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,506 shares of the company’s stock worth $19,174,000 after purchasing an additional 8,715 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GOLF shares. Truist Financial raised their price target on Acushnet from $55.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, January 9th. KeyCorp raised their target price on Acushnet from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.71.

Acushnet Price Performance

GOLF stock opened at $63.14 on Thursday. The business’s 50-day moving average is $64.56 and its two-hundred day moving average is $61.17. 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 firm has a market capitalization of $4.00 billion, a P/E 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.

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

Acushnet Increases Dividend

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

Insiders Place Their Bets

In other news, insider Brendan J. Reidy sold 9,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total value of $580,410.00. Following the transaction, the insider now owns 58,588 shares in the company, valued at approximately $3,778,340.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 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 in the company, valued at approximately $3,778,340.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction on Friday, March 8th. The stock was 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 $8,391,959.04. The disclosure for this sale can be found here. 54.10% of the stock is owned by company insiders.

About Acushnet

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.