Acushnet (NYSE:GOLF) Shares Purchased by Amalgamated Bank

Amalgamated Bank boosted its position in shares of Acushnet (NYSE:GOLF - Free Report) by 712.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,836 shares of the company's stock after buying an additional 6,871 shares during the period. Amalgamated Bank's holdings in Acushnet were worth $538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Acushnet by 6.2% in the 1st 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. Heritage Family Offices LLP raised its holdings in shares of Acushnet by 7.4% in the first quarter. Heritage Family Offices LLP now owns 3,090 shares of the company's stock worth $212,000 after buying an additional 212 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Acushnet by 1.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company's stock worth $1,144,000 after buying an additional 213 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Acushnet by 1.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company's stock valued at $953,000 after acquiring an additional 217 shares during the period. Finally, Berry Wealth Group LP grew its position in Acushnet by 8.0% in the 1st quarter. Berry Wealth Group LP now owns 3,075 shares of the company's stock valued at $211,000 after acquiring an additional 229 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Stock Down 0.4%

Shares of GOLF stock traded down $0.29 during mid-day trading on Friday, hitting $77.96. The stock had a trading volume of 280,972 shares, compared to its average volume of 397,571. Acushnet has a 12-month low of $55.31 and a 12-month high of $79.23. The firm has a market capitalization of $4.58 billion, a P/E ratio of 21.66 and a beta of 0.84. The firm's 50-day moving average is $71.52 and its two-hundred day moving average is $68.27. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.21 and a quick ratio of 1.21.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.30. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. The business had revenue of $703.37 million during the quarter, compared to analysts' expectations of $697.82 million. During the same period in the prior year, the business earned $1.35 EPS. The business's revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.235 per share. The ex-dividend date was Friday, June 6th. This represents a $0.94 annualized dividend and a yield of 1.21%. Acushnet's dividend payout ratio (DPR) is presently 26.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Compass Point cut shares of Acushnet from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $80.00 to $71.00 in a research report on Monday, May 5th. Truist Financial boosted their price target on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Finally, KeyCorp restated an "overweight" rating and set a $80.00 price objective (up from $75.00) on shares of Acushnet in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Acushnet currently has a consensus rating of "Hold" and a consensus price target of $71.00.

Insider Transactions at Acushnet

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction 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 approximately $1,935,570,690.68. This trade represents a 3.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 53.60% of the company's stock.

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.