Lazard Asset Management LLC Makes New $51,000 Investment in Acushnet Holdings Corp. (NYSE:GOLF)

Lazard Asset Management LLC bought a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 725 shares of the company’s stock, valued at approximately $51,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after acquiring an additional 176 shares in the last quarter. Berry Wealth Group LP acquired a new position in Acushnet during the fourth quarter valued at approximately $202,000. Hyperion Capital Advisors LP acquired a new position in Acushnet during the fourth quarter valued at approximately $206,000. Corient Private Wealth LLC bought a new position in shares of Acushnet in the fourth quarter valued at approximately $210,000. Finally, Leavell Investment Management Inc. acquired a new stake in shares of Acushnet in the fourth quarter worth $210,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Buying and Selling

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the sale, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. This represents a 17.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 54.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Truist Financial raised their price target on Acushnet from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. KeyCorp boosted their price objective on Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, Compass Point downgraded Acushnet from a “buy” rating to a “neutral” rating and decreased their target price for the company from $80.00 to $71.00 in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Acushnet has a consensus rating of “Hold” and an average target price of $70.00.

Acushnet Stock Performance

NYSE GOLF opened at $68.24 on Monday. The company’s fifty day moving average is $65.13 and its two-hundred day moving average is $68.13. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 23.21 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. Acushnet Holdings Corp. has a 52-week low of $55.31 and a 52-week high of $76.65.

Acushnet (NYSE:GOLF) last released its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.30. The business had revenue of $703.37 million for the quarter, compared to the consensus estimate of $697.82 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.35 earnings per share. Equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.38%. Acushnet’s payout ratio is 26.11%.

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.