OMERS ADMINISTRATION Corp Acquires Shares of 18,400 Acushnet $GOLF

Key Points

• OMERS ADMINISTRATION Corp acquired a new position in Acushnet, purchasing 18,400 shares valued at approximately $1.26 million in the first quarter.
• Acushnet's recent earnings report showed EPS of $1.25, missing analysts' estimates of $1.33, while revenue increased by 5.4% year-over-year.
• The company declared a quarterly dividend of $0.235 per share, with an annualized yield of 1.2%, set to be paid on September 19th.

OMERS ADMINISTRATION Corp acquired a new position in shares of Acushnet (NYSE:GOLF - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,400 shares of the company's stock, valued at approximately $1,263,000.

Several other hedge funds and other institutional investors have also modified their holdings of GOLF. Price T Rowe Associates Inc. MD raised its holdings in Acushnet by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,711 shares of the company's stock valued at $1,686,000 after buying an additional 1,634 shares in the last quarter. Northern Trust Corp grew its position in shares of Acushnet by 8.7% in the fourth quarter. Northern Trust Corp now owns 354,169 shares of the company's stock valued at $25,174,000 after purchasing an additional 28,314 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Acushnet in the fourth quarter valued at about $385,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Acushnet in the fourth quarter valued at about $1,096,000. Finally, Bank of America Corp DE grew its position in shares of Acushnet by 8.1% in the fourth quarter. Bank of America Corp DE now owns 135,518 shares of the company's stock valued at $9,633,000 after purchasing an additional 10,150 shares during the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Stock Performance

GOLF stock traded up $0.17 during trading on Friday, reaching $76.36. 280,225 shares of the stock were exchanged, compared to its average volume of 402,325. Acushnet has a twelve month low of $55.31 and a twelve month high of $84.40. The company has a market capitalization of $4.48 billion, a P/E ratio of 20.42 and a beta of 0.90. The stock has a 50 day simple moving average of $78.18 and a 200-day simple moving average of $70.84. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13.

Acushnet (NYSE:GOLF - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.08). Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The firm had revenue of $720.48 million for the quarter, compared to analyst estimates of $713.70 million. During the same period last year, the business earned $1.11 earnings per share. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 5th. Acushnet's payout ratio is presently 25.13%.

Analysts Set New Price Targets

GOLF has been the topic of several research analyst reports. Morgan Stanley raised 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. KeyCorp raised their price target on Acushnet from $80.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Zacks Research downgraded Acushnet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $73.33.

Insider Buying and Selling

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 stock was sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mary Louise Bohn sold 13,190 shares of Acushnet stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $78.85, for a total value of $1,040,031.50. Following the sale, the insider directly owned 191,786 shares in the company, valued at $15,122,326.10. The trade was a 6.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.60% of the stock is currently owned by insiders.

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.