State of Alaska Department of Revenue Raises Holdings in Acushnet $GOLF

State of Alaska Department of Revenue increased its position in Acushnet (NYSE:GOLF) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,746 shares of the company’s stock after buying an additional 585 shares during the period. State of Alaska Department of Revenue’s holdings in Acushnet were worth $1,146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky bought a new stake in Acushnet in the 1st quarter worth approximately $629,000. American Century Companies Inc. increased its position in Acushnet by 9.9% in the first quarter. American Century Companies Inc. now owns 20,742 shares of the company’s stock worth $1,424,000 after purchasing an additional 1,860 shares during the last quarter. Praxis Investment Management Inc. purchased a new stake in Acushnet during the first quarter valued at $290,000. Mackenzie Financial Corp purchased a new stake in Acushnet during the first quarter valued at $273,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Acushnet by 6.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company’s stock valued at $240,000 after purchasing an additional 203 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Stock Up 0.2%

Shares of NYSE GOLF opened at $80.54 on Friday. Acushnet has a 1 year low of $55.31 and a 1 year high of $84.40. The firm has a 50-day simple moving average of $77.30 and a two-hundred day simple moving average of $72.21. The company has a market cap of $4.72 billion, a P/E ratio of 21.53 and a beta of 0.89. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.25 and a quick ratio of 1.21.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.08). Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The business had revenue of $720.48 million during the quarter, compared to analysts’ expectations of $713.70 million. During the same quarter in the previous year, the company posted $1.11 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, September 5th. Acushnet’s dividend payout ratio (DPR) is 25.13%.

Insiders Place Their Bets

In related news, Director Holdings Corp. Misto sold 953,406 shares of Acushnet stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the completion of the sale, the director owned 29,523,653 shares in the company, valued at $1,935,570,690.68. This trade represents a 3.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mary Louise Bohn sold 13,190 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the completion of the sale, the insider directly owned 191,786 shares of the company’s stock, valued at approximately $15,122,326.10. This trade represents a 6.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Zacks Research downgraded shares of Acushnet from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. KeyCorp upped their price objective on Acushnet from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Morgan Stanley raised their price objective on Acushnet from $63.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.00.

Acushnet Company 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.