Acushnet (NYSE:GOLF) Director Sells $420,600.00 in Stock

Acushnet (NYSE:GOLF) Director Gregory Hewett sold 4,206 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total transaction of $420,600.00. Following the completion of the transaction, the director directly owned 37,017 shares in the company, valued at $3,701,700. This trade represents a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Acushnet Stock Down 1.7%

Shares of NYSE:GOLF traded down $1.62 during midday trading on Friday, hitting $95.67. 412,769 shares of the stock were exchanged, compared to its average volume of 370,438. The company has a market capitalization of $5.60 billion, a PE ratio of 30.86 and a beta of 0.88. Acushnet has a 52-week low of $55.31 and a 52-week high of $104.81. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.30 and a current ratio of 2.38. The business’s fifty day simple moving average is $94.39 and its two-hundred day simple moving average is $84.72.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, February 26th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.31). The firm had revenue of $477.22 million during the quarter, compared to analyst estimates of $453.59 million. Acushnet had a return on equity of 25.49% and a net margin of 7.37%.The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) earnings per share. As a group, research analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a boost from Acushnet’s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a yield of 1.1%. Acushnet’s payout ratio is 30.32%.

Analyst Upgrades and Downgrades

Several analysts have commented on GOLF shares. KeyCorp reissued a “sector weight” rating on shares of Acushnet in a research report on Friday, January 16th. JPMorgan Chase & Co. raised shares of Acushnet from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $74.00 to $96.00 in a research note on Friday, January 23rd. Zacks Research cut shares of Acushnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th. Finally, UBS Group set a $100.00 target price on Acushnet in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Acushnet presently has an average rating of “Hold” and an average target price of $89.57.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC boosted its holdings in Acushnet by 238.0% during the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock valued at $55,269,000 after acquiring an additional 495,794 shares during the period. Norges Bank bought a new position in shares of Acushnet in the second quarter worth about $20,963,000. Morgan Stanley lifted its position in shares of Acushnet by 22.3% during the 4th quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock worth $110,091,000 after purchasing an additional 251,889 shares during the last quarter. Tributary Capital Management LLC boosted its stake in Acushnet by 92.6% during the 3rd quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock valued at $35,908,000 after purchasing an additional 219,895 shares during the period. Finally, M&T Bank Corp boosted its stake in Acushnet by 668.1% during the 4th quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock valued at $12,761,000 after purchasing an additional 139,060 shares during the period. Institutional investors own 53.12% of the company’s stock.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.