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

Mutual of America Capital Management LLC bought a new position in Acushnet (NYSE:GOLF - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,985 shares of the company's stock, valued at approximately $274,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Acushnet by 26.5% in the first quarter. Bank of New York Mellon Corp now owns 343,978 shares of the company's stock valued at $23,617,000 after acquiring an additional 71,983 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Acushnet by 6.0% in the first quarter. OneDigital Investment Advisors LLC now owns 14,618 shares of the company's stock valued at $1,004,000 after acquiring an additional 828 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Acushnet by 7.9% in the first quarter. Principal Financial Group Inc. now owns 1,104,699 shares of the company's stock valued at $75,849,000 after acquiring an additional 80,676 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new position in shares of Acushnet in the first quarter valued at approximately $426,000. Finally, New York State Teachers Retirement System acquired a new stake in Acushnet during the first quarter valued at approximately $414,000. Institutional investors own 53.12% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. KeyCorp restated an "overweight" rating and issued a $80.00 price target (up previously from $75.00) on shares of Acushnet in a research report on Friday, June 27th. Compass Point downgraded shares of Acushnet from a "buy" rating to a "neutral" rating and reduced their price target for the company from $80.00 to $71.00 in a research report on Monday, May 5th. Finally, Truist Financial upped their price target on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Acushnet has a consensus rating of "Hold" and an average target price of $72.50.

Insider Transactions at Acushnet

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of Acushnet stock in a transaction that occurred on Thursday, July 10th. The shares were 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. The trade was 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. Corporate insiders own 53.60% of the company's stock.

Acushnet Price Performance

NYSE:GOLF traded up $0.03 on Friday, reaching $82.20. The stock had a trading volume of 465,109 shares, compared to its average volume of 369,306. The company has a market capitalization of $4.83 billion, a P/E ratio of 22.83 and a beta of 0.84. Acushnet has a 1-year low of $55.31 and a 1-year high of $84.40. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.19. The stock has a fifty day moving average price of $73.87 and a 200-day moving average price of $68.92.

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

Acushnet Announces Dividend

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

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.