Acushnet Holdings Corp. (NYSE:GOLF) Shares Acquired by Lummis Asset Management LP

Lummis Asset Management LP increased its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 11.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 34,497 shares of the company’s stock after purchasing an additional 3,574 shares during the period. Acushnet makes up 2.6% of Lummis Asset Management LP’s investment portfolio, making the stock its 12th biggest position. Lummis Asset Management LP’s holdings in Acushnet were worth $2,199,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GOLF. Sei Investments Co. increased its stake in shares of Acushnet by 29.0% during the first quarter. Sei Investments Co. now owns 96,624 shares of the company’s stock worth $6,372,000 after buying an additional 21,730 shares during the period. Vanguard Group Inc. raised its holdings in shares of Acushnet by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock valued at $198,530,000 after purchasing an additional 15,088 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Acushnet by 95.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 36,994 shares of the company’s stock worth $2,440,000 after purchasing an additional 18,064 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Acushnet by 871.1% during the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after purchasing an additional 889,515 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Acushnet by 126.4% in the first quarter. Janus Henderson Group PLC now owns 36,470 shares of the company’s stock valued at $2,405,000 after buying an additional 20,360 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GOLF shares. Compass Point dropped their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and dropped their price target for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Finally, Truist Financial upped their target price on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Acushnet has a consensus rating of “Hold” and an average target price of $71.40.

Acushnet Stock Performance

Shares of GOLF stock traded up $0.38 during trading hours on Thursday, hitting $69.02. The stock had a trading volume of 25,083 shares, compared to its average volume of 313,040. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The firm has a market capitalization of $4.20 billion, a PE ratio of 23.35 and a beta of 0.85. The stock’s 50 day moving average is $63.94 and its 200 day moving average is $64.87. Acushnet Holdings Corp. has a twelve month low of $55.74 and a twelve month high of $76.38.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $620.50 million for the quarter, compared to the consensus estimate of $620.40 million. During the same period last year, the firm posted $0.85 EPS. Acushnet’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, research analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet’s dividend payout ratio is presently 29.25%.

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.