Ceredex Value Advisors LLC Makes New Investment in Acushnet $GOLF

Ceredex Value Advisors LLC purchased a new stake in shares of Acushnet (NYSE:GOLF) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 59,500 shares of the company’s stock, valued at approximately $7,053,000.

Several other institutional investors have also recently bought and sold shares of GOLF. Millstone Evans Group LLC lifted its holdings in shares of Acushnet by 170.2% in the first quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock valued at $26,000 after purchasing an additional 177 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Acushnet during the second quarter valued at approximately $36,000. Brown Brothers Harriman & Co. grew its holdings in Acushnet by 389.6% during the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after buying an additional 261 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in Acushnet in the 3rd quarter valued at $28,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after acquiring an additional 295 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOLF shares. Wall Street Zen raised shares of Acushnet from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Roth Capital restated a “neutral” rating and set a $95.00 price target on shares of Acushnet in a report on Friday, August 7th. Truist Financial upped their price objective on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Weiss Ratings upgraded shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their target price on Acushnet from $96.00 to $118.00 and gave the company a “neutral” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Acushnet currently has a consensus rating of “Hold” and an average price target of $99.17.

Acushnet Stock Down 0.2%

GOLF opened at $89.03 on Friday. The firm has a market capitalization of $5.20 billion, a P/E ratio of 24.26 and a beta of 0.81. Acushnet has a one year low of $73.09 and a one year high of $119.65. The company has a fifty day moving average price of $104.68 and a 200-day moving average price of $98.27. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The business had revenue of $819.95 million during the quarter, compared to analysts’ expectations of $788.24 million. During the same quarter in the previous year, the company earned $1.25 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts expect that Acushnet will post 4.02 earnings per share for the current fiscal year.

Acushnet Announces Dividend

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

Acushnet Company Profile

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.