Nuveen Asset Management LLC Acquires 51,404 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Nuveen Asset Management LLC boosted its stake in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 59.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 138,358 shares of the company's stock after buying an additional 51,404 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.23% of Acushnet worth $9,834,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of Acushnet during the 4th quarter worth $62,713,000. Lord Abbett & CO. LLC purchased a new stake in Acushnet during the 4th quarter worth $28,641,000. Norges Bank purchased a new stake in Acushnet during the 4th quarter worth $14,825,000. 12th Street Asset Management Company LLC boosted its position in 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 during the period. Finally, JPMorgan Chase & Co. boosted its position in 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 during the period. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOLF shares. Wall Street Zen cut shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. KeyCorp increased their price target on shares of Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Truist Financial increased their price target 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 cut shares of Acushnet from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $70.00.

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the transaction, the insider now directly owns 96,006 shares in the company, valued at $6,802,985.16. The trade was a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 54.60% of the stock is owned by company insiders.

Acushnet Stock Performance

NYSE GOLF traded up $0.13 during midday trading on Thursday, hitting $68.45. The company had a trading volume of 284,384 shares, compared to its average volume of 380,095. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 23.28 and a beta of 0.90. The firm has a fifty day simple moving average of $65.30 and a two-hundred day simple moving average of $68.09. Acushnet Holdings Corp. has a fifty-two week low of $55.31 and a fifty-two week high of $76.65.

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, topping the consensus estimate of $1.32 by $0.30. The company had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $1.35 EPS. Equities analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.94 annualized dividend and a dividend yield of 1.37%. Acushnet's dividend payout ratio (DPR) is currently 26.11%.

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.