Intech Investment Management LLC Grows Position in Acushnet $GOLF

Intech Investment Management LLC lifted its holdings in shares of Acushnet (NYSE:GOLF) by 93.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,423 shares of the company’s stock after buying an additional 10,346 shares during the period. Intech Investment Management LLC’s holdings in Acushnet were worth $1,710,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund boosted its position in shares of Acushnet by 1.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company’s stock valued at $503,000 after buying an additional 100 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Acushnet by 3.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock valued at $336,000 after buying an additional 133 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Acushnet by 2.0% during the third quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock valued at $553,000 after buying an additional 140 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Acushnet by 8.4% during the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $149,000 after buying an additional 144 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its position in shares of Acushnet by 0.3% during the third quarter. Vestmark Advisory Solutions Inc. now owns 46,246 shares of the company’s stock valued at $3,630,000 after buying an additional 148 shares during the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the transaction, the insider directly owned 70,512 shares of the company’s stock, valued at approximately $6,434,925.12. This trade represents a 17.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 53.30% of the company’s stock.

Acushnet Trading Up 1.6%

Shares of NYSE:GOLF opened at $89.17 on Friday. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 31.40 and a beta of 0.85. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.59 and a current ratio of 2.87. The stock’s 50-day simple moving average is $92.52 and its two-hundred day simple moving average is $91.30. Acushnet has a 52-week low of $69.54 and a 52-week high of $104.81.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.02). The firm had revenue of $752.98 million during the quarter, compared to analysts’ expectations of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 earnings per share. Analysts expect that Acushnet will post 3.82 EPS for the current year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Acushnet’s dividend payout ratio (DPR) is presently 35.92%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOLF. Weiss Ratings cut Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. UBS Group set a $100.00 price objective on Acushnet in a research report on Thursday, February 26th. Truist Financial increased their price objective on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research report on Tuesday, May 19th. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th. Finally, Roth Mkm set a $87.00 target price on Acushnet in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $94.17.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.