Acushnet Holdings Corp. (NYSE:GOLF) Holdings Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,868 shares of the company’s stock after buying an additional 8,248 shares during the period. Envestnet Asset Management Inc.’s holdings in Acushnet were worth $8,307,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Thornburg Investment Management Inc. acquired a new stake in Acushnet during the second quarter valued at approximately $7,794,000. American Century Companies Inc. increased its stake in Acushnet by 102.0% in the 2nd quarter. American Century Companies Inc. now owns 18,135 shares of the company’s stock valued at $1,151,000 after buying an additional 9,156 shares during the period. Van Hulzen Asset Management LLC grew its stake in Acushnet by 6.5% in the second quarter. Van Hulzen Asset Management LLC now owns 18,824 shares of the company’s stock valued at $1,195,000 after purchasing an additional 1,155 shares in the last quarter. Wedbush Securities Inc. raised its position in Acushnet by 5.2% during the second quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock valued at $224,000 after acquiring an additional 176 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Acushnet in the second quarter worth $209,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Price Performance

GOLF opened at $64.16 on Friday. The company’s 50 day simple moving average is $66.75 and its 200-day simple moving average is $64.76. Acushnet Holdings Corp. has a one year low of $49.42 and a one year high of $74.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The stock has a market capitalization of $4.05 billion, a P/E ratio of 22.28 and a beta of 0.85.

Acushnet (NYSE:GOLF) last issued its earnings results on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.09). The business had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 EPS. Sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.02 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Friday, September 6th. Acushnet’s dividend payout ratio is 29.86%.

Insider Buying and Selling

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.19, for a total value of $71,250,900.00. Following the completion of the transaction, the director now directly owns 31,412,966 shares in the company, valued at $2,016,398,287.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 54.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Finally, Compass Point dropped their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.43.

About Acushnet

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.