The Manufacturers Life Insurance Company Buys Shares of 14,533 Acushnet $GOLF

The Manufacturers Life Insurance Company purchased a new stake in shares of Acushnet (NYSE:GOLF - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 14,533 shares of the company's stock, valued at approximately $1,723,000.

Several other institutional investors have also modified their holdings of GOLF. BlackRock Inc. acquired a new stake in shares of Acushnet in the 2nd quarter worth approximately $496,463,000. Capital Research Global Investors raised its holdings in Acushnet by 8.5% during the fourth quarter. Capital Research Global Investors now owns 1,465,000 shares of the company's stock worth $116,936,000 after purchasing an additional 115,000 shares during the last quarter. Morgan Stanley raised its holdings in Acushnet by 22.3% during the fourth quarter. Morgan Stanley now owns 1,379,236 shares of the company's stock worth $110,091,000 after purchasing an additional 251,889 shares during the last quarter. Raymond James Financial Inc. boosted its position in Acushnet by 0.4% during the second quarter. Raymond James Financial Inc. now owns 952,453 shares of the company's stock worth $69,358,000 after purchasing an additional 4,243 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Acushnet by 31.8% in the second quarter. Bank of America Corp DE now owns 457,460 shares of the company's stock valued at $33,312,000 after purchasing an additional 110,245 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen raised Acushnet from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Truist Financial increased their price objective on shares of Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a research note on Tuesday, May 19th. Weiss Ratings upgraded shares of Acushnet from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. lifted their target price on shares of Acushnet from $96.00 to $118.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Finally, Roth Capital reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Acushnet in a report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $99.17.

Acushnet Trading Down 0.4%

NYSE GOLF opened at $86.51 on Friday. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 23.57 and a beta of 0.80. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.48 and a current ratio of 2.55. Acushnet has a one year low of $73.09 and a one year high of $119.65. The company's 50 day moving average price is $101.32 and its 200 day moving average price is $97.38.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.45. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The company had revenue of $819.95 million during the quarter, compared to the consensus estimate of $788.24 million. During the same period in the previous year, the firm earned $1.25 earnings per share. Acushnet's revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts predict that Acushnet will post 4.02 EPS for the current year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 4th. Acushnet's dividend payout ratio is currently 27.79%.

Insider Activity at Acushnet

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $50,255.00. Following the transaction, the insider owned 2,868 shares in the company, valued at $272,460. The trade was a 15.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 53.30% of the stock is currently owned by corporate insiders.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company's portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet's product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source