3,985 Shares in Acushnet (NYSE:GOLF) Purchased by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC purchased 3,985 shares of Acushnet (NYSE:GOLF) valued at approximately $274,000 during the first quarter.
• Acushnet recently reported earnings per share of $1.25, missing analysts' consensus estimates, while its revenue for the quarter was $720.48 million, slightly above expectations.
• The company has declared a quarterly dividend of $0.235 per share to be paid on September 19th, reflecting an annual yield of 1.2%.

Mutual of America Capital Management LLC bought a new position in shares of Acushnet (NYSE:GOLF - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,985 shares of the company's stock, valued at approximately $274,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new stake in Acushnet in the fourth quarter valued at approximately $31,000. KBC Group NV bought a new stake in Acushnet in the first quarter valued at approximately $44,000. GAMMA Investing LLC raised its stake in Acushnet by 96.1% in the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock valued at $45,000 after buying an additional 319 shares during the period. Lazard Asset Management LLC bought a new stake in Acushnet in the fourth quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in Acushnet by 39.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after buying an additional 232 shares during the period. Institutional investors own 53.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GOLF. Compass Point lowered Acushnet from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $80.00 to $71.00 in a research note on Monday, May 5th. Morgan Stanley upped 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. Truist Financial upped their price objective on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, KeyCorp increased their target price on Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $73.33.

Insider Transactions at Acushnet

In related news, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the sale, the director owned 29,523,653 shares of the company's stock, valued at $1,935,570,690.68. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 53.60% of the stock is owned by corporate insiders.

Acushnet Price Performance

Shares of NYSE GOLF opened at $80.05 on Thursday. The firm has a market cap of $4.70 billion, a P/E ratio of 21.40 and a beta of 0.84. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. Acushnet has a 1-year low of $55.31 and a 1-year high of $84.40. The business's 50 day moving average is $76.29 and its 200-day moving average is $69.49.

Acushnet (NYSE:GOLF - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.08). The firm had revenue of $720.48 million for the quarter, compared to the consensus estimate of $713.70 million. Acushnet had a return on equity of 28.05% and a net margin of 9.24%. Acushnet's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. Equities research analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.94 dividend on an annualized basis and a yield of 1.2%. Acushnet's dividend payout ratio is currently 25.13%.

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.

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