Acushnet Holdings Corp. (NYSE:GOLF) Holdings Trimmed by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,960,022 shares of the company’s stock after selling 160,947 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 11.45% of Acushnet worth $494,718,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. raised its holdings in shares of Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after purchasing an additional 176 shares in the last quarter. Berry Wealth Group LP acquired a new position in Acushnet in the fourth quarter worth approximately $202,000. Heritage Family Offices LLP bought a new position in shares of Acushnet in the fourth quarter valued at $205,000. Leavell Investment Management Inc. acquired a new stake in shares of Acushnet during the 4th quarter valued at $210,000. Finally, Corient Private Wealth LLC bought a new stake in shares of Acushnet during the 4th quarter worth $210,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Price Performance

Shares of GOLF opened at $59.63 on Friday. 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 company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 20.28 and a beta of 0.84. The business’s 50-day moving average is $64.86 and its 200-day moving average is $67.35. Acushnet Holdings Corp. has a fifty-two week low of $55.31 and a fifty-two week high of $76.65.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. The business had revenue of $445.17 billion for the quarter, compared to analysts’ expectations of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Equities research analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. Acushnet’s dividend payout ratio (DPR) is presently 28.23%.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the sale, the insider now owns 96,006 shares of the company’s stock, valued at $6,802,985.16. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. KeyCorp cut their price objective on Acushnet from $77.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday. Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and raised their target price for the stock from $77.00 to $80.00 in a report on Tuesday, March 4th. Truist Financial cut their price target on shares of Acushnet from $68.00 to $64.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Finally, StockNews.com lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Acushnet currently has an average rating of “Hold” and a consensus target price of $70.60.

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.