Dimensional Fund Advisors LP Sells 21,312 Shares of Acushnet $GOLF

Dimensional Fund Advisors LP lowered its position in Acushnet (NYSE:GOLF) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,536,099 shares of the company’s stock after selling 21,312 shares during the quarter. Dimensional Fund Advisors LP owned 2.62% of Acushnet worth $120,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Burney Co. acquired a new position in Acushnet in the 3rd quarter valued at approximately $2,932,000. Fisher Asset Management LLC raised its stake in shares of Acushnet by 35.1% during the second quarter. Fisher Asset Management LLC now owns 208,357 shares of the company’s stock valued at $15,173,000 after acquiring an additional 54,088 shares during the last quarter. Tributary Capital Management LLC lifted its holdings in shares of Acushnet by 92.6% during the third quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock worth $35,908,000 after purchasing an additional 219,895 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Acushnet by 19.2% during the third quarter. Public Sector Pension Investment Board now owns 107,493 shares of the company’s stock worth $8,437,000 after purchasing an additional 17,319 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Acushnet by 0.8% in the second quarter. Geode Capital Management LLC now owns 662,194 shares of the company’s stock worth $48,227,000 after purchasing an additional 5,009 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

Insider Activity

In related news, Director Gregory A. Hewett sold 4,206 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total transaction of $420,600.00. Following the sale, the director owned 37,017 shares in the company, valued at $3,701,700. This represents a 10.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 53.60% of the stock is owned by corporate insiders.

Acushnet Trading Down 0.3%

GOLF opened at $95.19 on Thursday. Acushnet has a twelve month low of $55.31 and a twelve month high of $104.81. The company has a fifty day moving average of $95.48 and a 200-day moving average of $85.25. The stock has a market cap of $5.57 billion, a PE ratio of 30.71 and a beta of 0.88. The company has a quick ratio of 0.97, a current ratio of 2.38 and a debt-to-equity ratio of 1.18.

Acushnet (NYSE:GOLF) last released its earnings results on Thursday, February 26th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.31). The firm had revenue of $477.22 million during the quarter, compared to analyst estimates of $453.59 million. Acushnet had a net margin of 7.37% and a return on equity of 25.49%. Acushnet’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.02) EPS. On average, sell-side analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. Acushnet’s dividend payout ratio (DPR) is presently 32.90%.

Analyst Ratings Changes

A number of research firms recently weighed in on GOLF. Truist Financial increased their price objective on Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a report on Monday, February 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. KeyCorp reiterated a “sector weight” rating on shares of Acushnet in a research report on Friday, January 16th. JPMorgan Chase & Co. raised Acushnet from an “underweight” rating to a “neutral” rating and increased their price target for the company from $74.00 to $96.00 in a research note on Friday, January 23rd. Finally, Zacks Research downgraded Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Nine analysts have rated the stock with a Hold rating, According to MarketBeat, Acushnet currently has a consensus rating of “Hold” and a consensus target price of $89.57.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.