International Assets Investment Management LLC Invests $9.32 Million in Acushnet Holdings Corp. (NYSE:GOLF)

International Assets Investment Management LLC purchased a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 147,502 shares of the company's stock, valued at approximately $9,318,000. International Assets Investment Management LLC owned about 0.23% of Acushnet as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of GOLF. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Acushnet by 32.3% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 386,443 shares of the company's stock valued at $20,497,000 after buying an additional 94,253 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Acushnet by 8.0% during the third quarter. Ameriprise Financial Inc. now owns 965,654 shares of the company's stock worth $51,221,000 after purchasing an additional 71,263 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Acushnet by 284.7% during the third quarter. Qube Research & Technologies Ltd now owns 78,636 shares of the company's stock worth $4,171,000 after purchasing an additional 58,195 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Acushnet by 107.5% during the third quarter. Envestnet Asset Management Inc. now owns 95,923 shares of the company's stock worth $5,088,000 after purchasing an additional 49,706 shares during the period. Finally, Alps Advisors Inc. bought a new position in shares of Acushnet during the third quarter worth approximately $1,149,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Acushnet news, insider John Francis Duke, Jr. sold 17,000 shares of the 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 $8,391,959.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Brendan J. Reidy sold 9,000 shares of the company'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 transaction, the insider now owns 58,588 shares of the company's stock, valued at $3,778,340.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John Francis Duke, Jr. sold 17,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $64.32, for a total value of $1,093,440.00. Following the completion of the transaction, the insider now directly owns 130,472 shares in the company, valued at approximately $8,391,959.04. The disclosure for this sale can be found here. Company insiders own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

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

Acushnet Stock Up 3.7 %

Acushnet stock traded up $2.33 during midday trading on Tuesday, reaching $65.49. The stock had a trading volume of 686,841 shares, compared to its average volume of 354,890. Acushnet Holdings Corp. has a 12 month low of $43.62 and a 12 month high of $70.10. The company has a market capitalization of $4.15 billion, a P/E ratio of 22.66 and a beta of 0.88. The company has a fifty day moving average price of $63.50 and a two-hundred day moving average price of $61.80. 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 (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.03). Acushnet had a return on equity of 20.09% and a net margin of 8.33%. The company had revenue of $413.00 million for the quarter, compared to the consensus estimate of $429.16 million. Acushnet's quarterly revenue was down 7.7% on a year-over-year basis. As a group, equities analysts expect that Acushnet Holdings Corp. will post 3.17 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.215 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.86 annualized dividend and a dividend yield of 1.31%. This is an increase from Acushnet's previous quarterly dividend of $0.20. Acushnet's dividend payout ratio is currently 29.76%.

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.