Acushnet Holdings Corp. (NYSE:GOLF) Stock Position Increased by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 47.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,226 shares of the company’s stock after purchasing an additional 2,962 shares during the period. Glenmede Trust Co. NA’s holdings in Acushnet were worth $588,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wedbush Securities Inc. raised its position in shares of Acushnet by 5.2% during the second quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock worth $224,000 after purchasing an additional 176 shares during the period. SkyView Investment Advisors LLC raised its position in shares of Acushnet by 0.9% during the second quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock worth $1,295,000 after purchasing an additional 187 shares during the period. Azzad Asset Management Inc. ADV raised its position in shares of Acushnet by 2.0% during the third quarter. Azzad Asset Management Inc. ADV now owns 10,221 shares of the company’s stock worth $652,000 after purchasing an additional 204 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in Acushnet by 8.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock valued at $221,000 after buying an additional 260 shares during the period. Finally, Creative Planning raised its position in Acushnet by 5.1% during the second quarter. Creative Planning now owns 7,194 shares of the company’s stock valued at $457,000 after buying an additional 349 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Transactions at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the sale, the insider now owns 88,710 shares in the company, valued at approximately $6,556,556.10. This represents a 5.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 54.60% of the stock is currently owned by corporate insiders.

Acushnet Stock Performance

Shares of NYSE GOLF opened at $73.34 on Wednesday. The business’s 50-day moving average price is $65.95 and its two-hundred day moving average price is $65.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. Acushnet Holdings Corp. has a one year low of $56.34 and a one year high of $76.38. The company has a market capitalization of $4.46 billion, a P/E ratio of 24.95 and a beta of 0.88.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm had revenue of $620.50 million for the quarter, compared to the consensus estimate of $620.40 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.17%. Acushnet’s dividend payout ratio (DPR) is presently 29.25%.

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.