Strs Ohio Acquires Shares of 14,100 Acushnet Holdings Corp. (NYSE:GOLF)

Strs Ohio purchased a new position in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,100 shares of the company's stock, valued at approximately $890,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Arizona State Retirement System raised its position in Acushnet by 2.0% in the third quarter. Arizona State Retirement System now owns 9,590 shares of the company's stock worth $509,000 after acquiring an additional 188 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Acushnet by 43.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 711 shares of the company's stock worth $38,000 after purchasing an additional 215 shares in the last quarter. Deutsche Bank AG increased its stake in Acushnet by 2.3% in the 3rd quarter. Deutsche Bank AG now owns 17,769 shares of the company's stock worth $942,000 after purchasing an additional 399 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in Acushnet by 2.5% in the 3rd quarter. SkyView Investment Advisors LLC now owns 18,476 shares of the company's stock worth $980,000 after purchasing an additional 449 shares in the last quarter. Finally, Landscape Capital Management L.L.C. increased its stake in Acushnet by 4.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 13,581 shares of the company's stock worth $720,000 after purchasing an additional 629 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors.

Insider Transactions at Acushnet

In other news, insider Brendan J. Reidy sold 9,000 shares of the firm's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total value of $580,410.00. Following the sale, the insider now owns 58,588 shares in the company, valued at $3,778,340.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Acushnet news, insider Brendan J. Reidy sold 9,000 shares of Acushnet stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total transaction of $580,410.00. Following the sale, the insider now owns 58,588 shares in the company, valued at $3,778,340.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the sale, the insider now owns 130,472 shares in the company, valued at approximately $8,391,959.04. The disclosure for this sale can be found here. 54.10% of the stock is currently owned by corporate insiders.

Acushnet Stock Down 2.6 %

NYSE:GOLF traded down $1.64 on Thursday, hitting $61.52. 756,292 shares of the company's stock traded hands, compared to its average volume of 347,085. The company has a current ratio of 2.21, a quick ratio of 0.84 and a debt-to-equity ratio of 0.74. Acushnet Holdings Corp. has a 1 year low of $43.62 and a 1 year high of $70.10. The firm has a 50-day moving average price of $64.56 and a 200-day moving average price of $61.17. The company has a market cap of $3.90 billion, a PE ratio of 21.85 and a beta of 0.87.

Acushnet (NYSE:GOLF - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.03). Acushnet had a net margin of 8.33% and a return on equity of 20.09%. The business had revenue of $413.00 million for the quarter, compared to analysts' expectations of $429.16 million. The firm's revenue was down 7.7% on a year-over-year basis. Equities analysts anticipate that Acushnet Holdings Corp. will post 3.17 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.215 dividend. This is an increase from Acushnet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.86 annualized dividend and a dividend yield of 1.40%. Acushnet's dividend payout ratio (DPR) is presently 29.76%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GOLF shares. Truist Financial lifted their price target on Acushnet from $55.00 to $62.00 and gave the stock a "hold" rating in a research note on Tuesday, January 9th. KeyCorp lifted their price target on Acushnet from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, January 12th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Acushnet has an average rating of "Moderate Buy" and an average price target of $66.71.

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.