Van Hulzen Asset Management LLC Buys Shares of 11,342 Acushnet $GOLF

Van Hulzen Asset Management LLC purchased a new position in Acushnet (NYSE:GOLF) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,342 shares of the company’s stock, valued at approximately $1,344,000.

A number of other large investors have also made changes to their positions in the business. Fifth Third Bancorp increased its position in Acushnet by 36,310.7% during the 1st quarter. Fifth Third Bancorp now owns 27,308 shares of the company’s stock valued at $2,553,000 after buying an additional 27,233 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in Acushnet in the first quarter worth about $1,140,000. Kennedy Capital Management LLC boosted its holdings in Acushnet by 11.5% in the fourth quarter. Kennedy Capital Management LLC now owns 217,803 shares of the company’s stock worth $17,385,000 after acquiring an additional 22,424 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Acushnet by 8.5% during the fourth quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock worth $116,936,000 after acquiring an additional 115,000 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Acushnet during the second quarter worth about $1,747,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on GOLF. Weiss Ratings raised shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their target price on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Roth Capital restated a “neutral” rating and set a $95.00 price target on shares of Acushnet in a research note on Friday, August 7th. Truist Financial raised their price target on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen raised shares of Acushnet from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $99.17.

Insider Transactions at Acushnet

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the transaction, the insider directly owned 2,868 shares of the company’s stock, valued at approximately $272,460. The trade was a 15.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven Francis Pelisek sold 15,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the sale, the insider directly owned 70,512 shares in the company, valued at $6,434,925.12. This trade represents a 17.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 53.30% of the stock is owned by corporate insiders.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $89.60 on Tuesday. Acushnet has a twelve month low of $73.09 and a twelve month high of $119.65. The company has a current ratio of 2.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.01. The company has a market cap of $5.23 billion, a PE ratio of 24.41 and a beta of 0.81. The company’s 50 day moving average is $104.53 and its 200 day moving average is $98.21.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.63 by $0.45. The business had revenue of $819.95 million for the quarter, compared to the consensus estimate of $788.24 million. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. On average, sell-side analysts forecast that Acushnet will post 4.02 EPS for the current year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a $0.255 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. Acushnet’s dividend payout ratio is presently 27.79%.

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.