Rhumbline Advisers Trims Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Rhumbline Advisers cut its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,142 shares of the company’s stock after selling 821 shares during the period. Rhumbline Advisers owned 0.07% of Acushnet worth $2,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOLF. Principal Financial Group Inc. raised its position in shares of Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after buying an additional 63,294 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Acushnet in the third quarter worth approximately $1,443,000. FMR LLC increased its stake in shares of Acushnet by 2.5% in the third quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after buying an additional 10,762 shares during the period. Tidal Investments LLC purchased a new position in shares of Acushnet in the third quarter worth $508,000. Finally, GSA Capital Partners LLP bought a new stake in Acushnet during the 3rd quarter valued at $654,000. Institutional investors own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

GOLF has been the topic of a number of analyst reports. StockNews.com upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. Truist Financial upped their target price on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, KeyCorp lowered their target price on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Acushnet has a consensus rating of “Hold” and an average target price of $72.00.

Acushnet Price Performance

Shares of GOLF opened at $64.29 on Friday. The firm’s 50-day simple moving average is $68.95 and its two-hundred day simple moving average is $67.59. Acushnet Holdings Corp. has a fifty-two week low of $58.54 and a fifty-two week high of $76.65. The stock has a market cap of $3.91 billion, a PE ratio of 21.87 and a beta of 0.86. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.31. The company had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, March 7th. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. Acushnet’s payout ratio is currently 25.83%.

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.