Rhumbline Advisers Has $5.36 Million Position in Acushnet Holdings Corp. (NYSE:GOLF)

Rhumbline Advisers lifted its holdings in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 89.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,007 shares of the company's stock after acquiring an additional 36,865 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of Acushnet worth $5,356,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Acushnet in the 4th quarter worth approximately $62,713,000. Lord Abbett & CO. LLC acquired a new stake in shares of Acushnet in the 4th quarter valued at $28,641,000. Norges Bank acquired a new stake in shares of Acushnet in the 4th quarter valued at $14,825,000. 12th Street Asset Management Company LLC raised its position in shares of Acushnet by 170.1% during the fourth quarter. 12th Street Asset Management Company LLC now owns 120,883 shares of the company's stock worth $8,592,000 after acquiring an additional 76,126 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Acushnet by 5.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock valued at $76,654,000 after acquiring an additional 54,314 shares during the period. 53.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $80.00 to $71.00 in a report on Monday, May 5th. Wall Street Zen cut shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Truist Financial upped their target price on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, KeyCorp lifted 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $70.00.

Acushnet Stock Down 3.0%

Shares of NYSE:GOLF traded down $2.18 during midday trading on Friday, reaching $69.86. 254,182 shares of the company were exchanged, compared to its average volume of 385,333. 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 firm has a market cap of $4.11 billion, a PE ratio of 23.76 and a beta of 0.84. The stock has a fifty day simple moving average of $66.41 and a two-hundred day simple moving average of $68.15. 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 released 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 return on equity of 21.45% and a net margin of 7.78%. The firm 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 business's revenue was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a dividend of $0.235 per share. The ex-dividend date is Friday, June 6th. This represents a $0.94 annualized dividend and a yield of 1.35%. Acushnet's payout ratio is presently 26.11%.

Acushnet 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.