Norges Bank Buys New Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Norges Bank bought a new stake in Acushnet Holdings Corp. (NYSE:GOLFFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 347,392 shares of the company’s stock, valued at approximately $21,945,000. Norges Bank owned about 0.53% of Acushnet at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOLF. Federated Hermes Inc. purchased a new position in Acushnet in the fourth quarter valued at about $32,000. Gladius Capital Management LP purchased a new position in Acushnet in the fourth quarter valued at about $37,000. Principal Securities Inc. purchased a new position in Acushnet in the fourth quarter valued at about $37,000. Envestnet Portfolio Solutions Inc. purchased a new position in Acushnet in the fourth quarter valued at about $208,000. Finally, Linden Thomas Advisory Services LLC purchased a new position in Acushnet in the fourth quarter valued at about $216,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Stock Up 1.9 %

Shares of Acushnet stock opened at $65.90 on Monday. The company has a quick ratio of 1.46, a current ratio of 2.69 and a debt-to-equity ratio of 0.91. The firm has a market cap of $4.16 billion, a P/E ratio of 22.88 and a beta of 0.88. Acushnet Holdings Corp. has a fifty-two week low of $44.42 and a fifty-two week high of $70.10. The business has a 50-day moving average price of $63.51 and a 200 day moving average price of $63.12.

Acushnet (NYSE:GOLFGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.19. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. The company had revenue of $707.55 million during the quarter, compared to the consensus estimate of $692.41 million. On average, sell-side analysts forecast that Acushnet Holdings Corp. will post 3.13 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a $0.215 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.86 dividend on an annualized basis and a yield of 1.31%. Acushnet’s payout ratio is currently 29.86%.

Wall Street Analyst Weigh In

Several research firms have commented on GOLF. JPMorgan Chase & Co. raised their price objective on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Truist Financial lifted their target price on Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.38.

Read Our Latest Research Report on Acushnet

Insider Buying and Selling at Acushnet

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 completion of the transaction, the insider now directly owns 130,472 shares in the company, valued at $8,391,959.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Brendan J. Reidy sold 9,000 shares of the business’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 transaction of $580,410.00. Following the completion of the transaction, the insider now directly owns 58,588 shares in the company, valued at $3,778,340.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Francis Duke, Jr. sold 17,000 shares of the business’s 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 transaction, the insider now owns 130,472 shares of the company’s stock, valued at $8,391,959.04. The disclosure for this sale can be found here. 54.60% of the stock is currently owned by insiders.

Acushnet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Acushnet (NYSE:GOLF)

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