Whittier Trust Co. of Nevada Inc. Purchases 1,152 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Whittier Trust Co. of Nevada Inc. increased its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 1,719.4% during the 3rd quarter, Holdings Channel reports. The firm owned 1,219 shares of the company’s stock after acquiring an additional 1,152 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Acushnet were worth $78,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GOLF. Vanguard Group Inc. lifted its position in shares of Acushnet by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock valued at $198,530,000 after acquiring an additional 15,088 shares in the last quarter. Victory Capital Management Inc. raised its position 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 valued at $62,948,000 after buying an additional 889,515 shares during the last quarter. Raymond James & Associates boosted its position in shares of Acushnet by 0.9% during the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after acquiring an additional 4,300 shares during the last quarter. Tributary Capital Management LLC grew its stake in Acushnet by 0.3% during the second quarter. Tributary Capital Management LLC now owns 266,374 shares of the company’s stock valued at $16,909,000 after acquiring an additional 791 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Acushnet by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,447 shares of the company’s stock worth $15,264,000 after purchasing an additional 4,644 shares in the last quarter. Institutional investors own 53.12% of the company’s stock.

Acushnet Price Performance

Acushnet stock opened at $60.16 on Thursday. The firm has a market capitalization of $3.79 billion, a PE ratio of 20.89 and a beta of 0.84. Acushnet Holdings Corp. has a 12-month low of $49.42 and a 12-month high of $74.77. The firm has a 50-day moving average price of $64.55 and a 200-day moving average price of $64.61. The company has a current ratio of 2.28, a quick ratio of 1.27 and a debt-to-equity ratio of 0.81.

Acushnet (NYSE:GOLF) last announced its earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.09). Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The business had revenue of $683.90 million for the quarter, compared to analysts’ expectations of $709.83 million. During the same quarter last year, the firm earned $1.09 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities research analysts forecast that Acushnet Holdings Corp. will post 3.02 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.215 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.86 dividend on an annualized basis and a yield of 1.43%. Acushnet’s payout ratio is 29.86%.

Insider Transactions at Acushnet

In related news, Director Holdings Corp. Fila sold 1,110,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.19, for a total value of $71,250,900.00. Following the transaction, the director now owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial boosted their target price on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Compass Point decreased their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.43.

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.