Mutual of America Capital Management LLC Buys New Position in Acushnet $GOLF

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 purchased a new position in shares of Acushnet (NYSE:GOLF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,985 shares of the company's stock, valued at approximately $274,000.

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

Insider Buying and Selling at Acushnet

In other news, insider Mary Louise Bohn sold 13,190 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the sale, the insider directly owned 191,786 shares in the company, valued at approximately $15,122,326.10. This represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $62,505,297.36. Following the sale, the director owned 29,523,653 shares in the company, valued at $1,935,570,690.68. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.60% of the stock is owned by insiders.

Acushnet Stock Down 0.2%

Shares of NYSE GOLF traded down $0.16 during trading on Monday, reaching $78.03. 79,235 shares of the stock were exchanged, compared to its average volume of 477,778. The business's 50-day moving average price is $76.60 and its 200 day moving average price is $69.69. Acushnet has a twelve month low of $55.31 and a twelve month high of $84.40. The company has a quick ratio of 1.21, a current ratio of 2.25 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 20.86 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.25 EPS 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 analyst estimates of $713.70 million. During the same quarter last year, the firm posted $1.11 EPS. The company's revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, September 5th. This represents a $0.94 annualized dividend and a yield of 1.2%. Acushnet's payout ratio is presently 25.13%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOLF. Truist Financial boosted 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. Compass Point downgraded Acushnet from a "buy" rating to a "neutral" rating and lowered their price target for the company from $80.00 to $71.00 in a research report on Monday, May 5th. KeyCorp boosted their price target on Acushnet from $80.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Morgan Stanley boosted their price objective on Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Acushnet has a consensus rating of "Hold" and an average target price of $73.33.

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.