Hennion & Walsh Asset Management Inc. Has $331,000 Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 34.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,662 shares of the company’s stock after buying an additional 1,187 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Acushnet were worth $331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Lisle Cummings Inc. acquired a new position in shares of Acushnet in the third quarter valued at approximately $40,000. Prospera Private Wealth LLC acquired a new position in shares of Acushnet in the third quarter valued at approximately $41,000. nVerses Capital LLC acquired a new position in shares of Acushnet in the third quarter valued at approximately $57,000. Quarry LP boosted its stake in shares of Acushnet by 745.6% in the third quarter. Quarry LP now owns 1,057 shares of the company’s stock valued at $67,000 after buying an additional 932 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Acushnet by 1,719.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock worth $78,000 after buying an additional 1,152 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Trading Up 2.9 %

Shares of NYSE:GOLF opened at $75.89 on Wednesday. The company has a market capitalization of $4.61 billion, a P/E ratio of 25.81 and a beta of 0.88. Acushnet Holdings Corp. has a 1 year low of $58.54 and a 1 year high of $76.59. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The business’s 50 day simple moving average is $72.05 and its 200 day simple moving average is $67.66.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $620.50 million for the quarter, compared to the consensus estimate of $620.40 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, research analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Friday, December 6th. Acushnet’s dividend payout ratio is presently 29.25%.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the sale, the insider now owns 88,710 shares of the company’s stock, valued at approximately $6,556,556.10. This trade represents a 5.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial increased their price target on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th.

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.