Vanguard Group Inc. Lowers Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Vanguard Group Inc. cut its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,820,924 shares of the company's stock after selling 28,814 shares during the quarter. Vanguard Group Inc. owned approximately 4.64% of Acushnet worth $200,511,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. LPL Financial LLC raised its holdings in Acushnet by 23.3% during the fourth quarter. LPL Financial LLC now owns 25,411 shares of the company's stock valued at $1,806,000 after acquiring an additional 4,810 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Acushnet during the fourth quarter valued at about $746,000. Sei Investments Co. grew its position in shares of Acushnet by 4.3% during the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company's stock valued at $7,260,000 after purchasing an additional 4,256 shares in the last quarter. American Century Companies Inc. grew its position in shares of Acushnet by 3.9% during the fourth quarter. American Century Companies Inc. now owns 18,882 shares of the company's stock valued at $1,342,000 after purchasing an additional 711 shares in the last quarter. Finally, Semanteon Capital Management LP grew its position in shares of Acushnet by 3.0% during the fourth quarter. Semanteon Capital Management LP now owns 9,659 shares of the company's stock valued at $687,000 after purchasing an additional 281 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Trading Down 2.4 %

GOLF traded down $1.49 on Thursday, hitting $60.51. The company had a trading volume of 131,364 shares, compared to its average volume of 363,539. The company has a market cap of $3.63 billion, a PE ratio of 20.58 and a beta of 0.84. Acushnet Holdings Corp. has a 12-month low of $55.31 and a 12-month high of $76.65. 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 business's fifty day simple moving average is $65.54 and its 200 day simple moving average is $67.49.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.31. The business had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Equities research analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Acushnet's previous quarterly dividend of $0.22. Acushnet's payout ratio is currently 28.23%.

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction on Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the transaction, the insider now directly owns 96,006 shares of the company's stock, valued at approximately $6,802,985.16. The trade was a 17.24 % 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 the SEC website. Insiders own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GOLF shares. StockNews.com lowered Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. KeyCorp cut their price objective on Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered Acushnet from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. Finally, Compass Point upgraded Acushnet from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $77.00 to $80.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $72.80.

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.