Federated Hermes Inc. Acquires New Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Federated Hermes Inc. bought a new position in Acushnet Holdings Corp. (NYSE:GOLF) in the fourth quarter, HoldingsChannel.com reports. The fund bought 508 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds have also added to or reduced their stakes in GOLF. First Horizon Advisors Inc. increased its position in Acushnet by 43.3% during the third quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock valued at $38,000 after acquiring an additional 215 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Acushnet during the 3rd quarter valued at about $224,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Acushnet during the 3rd quarter valued at about $229,000. Olympiad Research LP bought a new position in shares of Acushnet in the 3rd quarter worth approximately $233,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Acushnet in the third quarter worth approximately $268,000. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on GOLF. Truist Financial increased their price target on shares of Acushnet from $55.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, January 9th. KeyCorp lifted their target price on Acushnet from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, January 12th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $66.71.

Insider Buying and Selling

In other Acushnet news, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction that occurred 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 sale, the insider now owns 130,472 shares of the company’s stock, valued at approximately $8,391,959.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Acushnet news, 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 directly owns 130,472 shares of the company’s stock, valued at approximately $8,391,959.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brendan J. Reidy sold 9,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total transaction of $580,410.00. Following the sale, the insider now owns 58,588 shares in the company, valued at $3,778,340.12. The disclosure for this sale can be found here. 54.60% of the stock is owned by company insiders.

Acushnet Price Performance

Shares of Acushnet stock opened at $65.49 on Wednesday. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 22.66 and a beta of 0.88. The company has a quick ratio of 0.84, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The stock’s 50-day simple moving average is $63.50 and its 200-day simple moving average is $61.80. Acushnet Holdings Corp. has a 52 week low of $43.62 and a 52 week high of $70.10.

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

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.31%. This is a boost from Acushnet’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, March 7th. Acushnet’s payout ratio is 29.76%.

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.