Cerity Partners LLC Takes $572,000 Position in Acushnet Holdings Corp. (NYSE:GOLF)

Cerity Partners LLC purchased a new stake in Acushnet Holdings Corp. (NYSE:GOLF) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,052 shares of the company’s stock, valued at approximately $572,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its holdings in shares of Acushnet by 8.0% in the third quarter. Ameriprise Financial Inc. now owns 965,654 shares of the company’s stock valued at $51,221,000 after buying an additional 71,263 shares during the period. Invesco Ltd. boosted its holdings in Acushnet by 1.6% during the third quarter. Invesco Ltd. now owns 545,158 shares of the company’s stock worth $28,915,000 after purchasing an additional 8,687 shares during the last quarter. London Co. of Virginia boosted its holdings in Acushnet by 1.1% during the third quarter. London Co. of Virginia now owns 396,096 shares of the company’s stock worth $21,009,000 after purchasing an additional 4,208 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Acushnet by 32.3% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 386,443 shares of the company’s stock worth $20,497,000 after purchasing an additional 94,253 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Acushnet by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 361,506 shares of the company’s stock worth $19,174,000 after purchasing an additional 8,715 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analysts Set New Price Targets

GOLF has been the subject of several recent research reports. KeyCorp increased their target price on shares of Acushnet from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. Truist Financial increased their target price on shares of Acushnet from $55.00 to $62.00 and gave the stock a “hold” rating in a report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.71.

Acushnet Stock Performance

NYSE GOLF opened at $63.14 on Thursday. The firm has a market capitalization of $4.00 billion, a P/E ratio of 21.85 and a beta of 0.87. The firm’s fifty day moving average price is $64.56 and its two-hundred day moving average price is $61.17. Acushnet Holdings Corp. has a 1 year low of $43.62 and a 1 year high of $70.10. The company has a current ratio of 2.21, a quick ratio of 0.84 and a debt-to-equity ratio of 0.74.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.03). The company had revenue of $413.00 million during the quarter, compared to the consensus estimate of $429.16 million. Acushnet had a net margin of 8.33% and a return on equity of 20.09%. Acushnet’s revenue was down 7.7% compared to the same quarter last year. As a group, research analysts anticipate that Acushnet Holdings Corp. will post 3.17 EPS for the current year.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.215 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Acushnet’s previous quarterly dividend of $0.20. This represents a $0.86 annualized dividend and a dividend yield of 1.36%. Acushnet’s dividend payout ratio is presently 29.76%.

Insider Activity

In other news, insider John Francis Duke, Jr. sold 17,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $64.32, for a total value of $1,093,440.00. Following the transaction, the insider now directly owns 130,472 shares of the company’s stock, valued at $8,391,959.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John Francis Duke, Jr. sold 17,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the transaction, the insider now directly owns 130,472 shares of the company’s stock, valued at $8,391,959.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brendan J. Reidy sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total transaction of $580,410.00. Following the transaction, the insider now directly owns 58,588 shares in the company, valued at $3,778,340.12. The disclosure for this sale can be found here. Insiders own 54.10% of the company’s stock.

Acushnet Company 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.