New York State Teachers Retirement System purchased a new stake in Acushnet (NYSE:GOLF - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,031 shares of the company's stock, valued at approximately $414,000.
A number of other institutional investors and hedge funds have also bought and sold shares of GOLF. Lord Abbett & CO. LLC acquired a new position in Acushnet in the 4th quarter valued at about $28,641,000. Norges Bank acquired a new position in shares of Acushnet during the 4th quarter worth approximately $14,825,000. 12th Street Asset Management Company LLC grew its position in shares of Acushnet by 170.1% during the 4th quarter. 12th Street Asset Management Company LLC now owns 120,883 shares of the company's stock worth $8,592,000 after purchasing an additional 76,126 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Acushnet by 5.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock worth $76,654,000 after purchasing an additional 54,314 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Acushnet by 59.1% during the 4th quarter. Nuveen Asset Management LLC now owns 138,358 shares of the company's stock worth $9,834,000 after purchasing an additional 51,404 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company's stock.
Insider Buying and Selling at Acushnet
In other news, Director Holdings Corp. Misto sold 953,406 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 53.60% of the company's stock.
Acushnet Price Performance
Shares of Acushnet stock traded up $0.17 on Monday, reaching $78.19. 244,200 shares of the stock were exchanged, compared to its average volume of 398,239. The firm's 50 day moving average is $71.52 and its 200-day moving average is $68.23. Acushnet has a one year low of $55.31 and a one year high of $79.23. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 2.21. The firm has a market cap of $4.60 billion, a PE ratio of 21.72 and a beta of 0.84.
Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.30. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. The company had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. During the same quarter in the prior year, the firm posted $1.35 EPS. The firm's quarterly revenue was down .6% on a year-over-year basis. As a group, analysts anticipate that Acushnet will post 3.06 EPS for the current fiscal year.
Acushnet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, June 6th. Acushnet's dividend payout ratio (DPR) is presently 26.11%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on GOLF. KeyCorp restated an "overweight" rating and set a $80.00 target price (up previously from $75.00) on shares of Acushnet in a research report on Friday, June 27th. Truist Financial increased their target price on shares of Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Finally, Compass Point lowered shares of 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 research report on Monday, May 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $71.00.
Read Our Latest Report on GOLF
Acushnet Company Profile
(
Free Report)
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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