Mutual of America Capital Management LLC Invests $274,000 in Acushnet (NYSE:GOLF)

Mutual of America Capital Management LLC purchased a new position in shares of Acushnet (NYSE:GOLF - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,985 shares of the company's stock, valued at approximately $274,000.

Other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Acushnet during the fourth quarter valued at approximately $31,000. KBC Group NV bought a new stake in shares of Acushnet during the first quarter valued at approximately $44,000. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 319 shares during the period. Lazard Asset Management LLC bought a new stake in Acushnet in the fourth quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its position 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 acquiring an additional 232 shares during the period. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction dated 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 transaction, the director owned 29,523,653 shares of the company's stock, valued at approximately $1,935,570,690.68. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 53.60% of the company's stock.

Acushnet Trading Up 0.0%

Acushnet stock traded up $0.03 during mid-day trading on Friday, hitting $82.20. The stock had a trading volume of 465,109 shares, compared to its average volume of 369,306. The stock has a 50-day simple moving average of $73.87 and a two-hundred day simple moving average of $68.90. The stock has a market capitalization of $4.83 billion, a PE ratio of 22.83 and a beta of 0.84. Acushnet has a 12 month low of $55.31 and a 12 month high of $84.40. The company has a current ratio of 2.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.19.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.30. The business had revenue of $703.37 million for the quarter, compared to analysts' expectations of $697.82 million. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. The firm's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.35 earnings per share. As a group, sell-side analysts forecast that Acushnet will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, June 6th. Acushnet's payout ratio is 26.11%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GOLF shares. Morgan Stanley upped their price target on Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Truist Financial increased their target price on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Compass Point cut Acushnet from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $80.00 to $71.00 in a report on Monday, May 5th. Finally, KeyCorp restated an "overweight" rating and set a $80.00 target price (up previously from $75.00) on shares of Acushnet in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Acushnet has a consensus rating of "Hold" and a consensus price target of $72.50.

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.