Farther Finance Advisors LLC Cuts Position in Acushnet Holdings Corp. (NYSE:GOLF)

Farther Finance Advisors LLC lessened its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 83.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,017 shares of the company’s stock after selling 5,061 shares during the quarter. Farther Finance Advisors LLC’s holdings in Acushnet were worth $72,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in 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 purchased a new position in Acushnet during the 3rd quarter valued at approximately $1,443,000. FMR LLC grew its holdings in Acushnet by 2.5% during the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock valued at $28,118,000 after buying an additional 10,762 shares in the last quarter. Tidal Investments LLC purchased a new position in Acushnet during the 3rd quarter valued at approximately $508,000. Finally, Atria Investments Inc boosted its holdings in shares of Acushnet by 35.0% in the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company’s stock worth $2,267,000 after purchasing an additional 8,268 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Price Performance

Shares of GOLF stock opened at $65.53 on Friday. Acushnet Holdings Corp. has a 52-week low of $58.54 and a 52-week 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. The firm has a market capitalization of $3.93 billion, a P/E ratio of 22.29 and a beta of 0.79. The stock has a 50 day moving average price of $67.52 and a 200 day moving average price of $67.59.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. As a group, sell-side analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction on Monday, March 10th. The stock was 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 $6,802,985.16. The trade was a 17.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 54.60% of the stock is currently owned by corporate insiders.

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.