Acushnet Holdings Corp. (NYSE:GOLF) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 37.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,154 shares of the company’s stock after purchasing an additional 3,020 shares during the period. Intech Investment Management LLC’s holdings in Acushnet were worth $793,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. increased its position in Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after buying an additional 176 shares in the last quarter. Quarry LP boosted its stake in shares of Acushnet by 745.6% during the third quarter. Quarry LP now owns 1,057 shares of the company’s stock valued at $67,000 after acquiring an additional 932 shares during the last quarter. Berry Wealth Group LP purchased a new stake in Acushnet during the 4th quarter worth about $202,000. Heritage Family Offices LLP acquired a new position in Acushnet in the 4th quarter valued at about $205,000. Finally, Corient Private Wealth LLC purchased a new position in Acushnet in the 4th quarter valued at about $210,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares of the company’s stock, valued at approximately $6,802,985.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 54.60% of the company’s stock.

Acushnet Stock Performance

Shares of GOLF stock opened at $65.53 on Monday. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 22.29 and a beta of 0.79. The company has a 50 day moving average price of $67.52 and a 200 day moving average price of $67.59. Acushnet Holdings Corp. has a one year low of $58.54 and a one year high of $76.65. 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 issued its 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. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. Sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.235 dividend. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, March 7th. Acushnet’s payout ratio is currently 28.23%.

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.