Federated Hermes Inc. Makes New Investment in Acushnet Holdings Corp. (NYSE:GOLF)

Federated Hermes Inc. purchased a new stake in Acushnet Holdings Corp. (NYSE:GOLF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 508 shares of the company’s stock, valued at approximately $32,000.

A number of other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in Acushnet by 43.3% in the third quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock valued at $38,000 after acquiring an additional 215 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in Acushnet during the 3rd quarter worth approximately $224,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Acushnet during the 3rd quarter worth approximately $229,000. Olympiad Research LP acquired a new position in shares of Acushnet in the third quarter valued at approximately $233,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Acushnet during the third quarter worth $268,000. Institutional investors own 53.12% of the company’s stock.

Acushnet Stock Performance

NYSE GOLF opened at $65.49 on Wednesday. The firm’s fifty day moving average price is $63.50 and its two-hundred day moving average price is $61.80. Acushnet Holdings Corp. has a 1 year low of $43.62 and a 1 year high of $70.10. The firm has a market capitalization of $4.15 billion, a P/E ratio of 22.66 and a beta of 0.88. 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 posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). Acushnet had a return on equity of 20.09% and a net margin of 8.33%. The business had revenue of $413.00 million for the quarter, compared to the consensus estimate of $429.16 million. The company’s quarterly 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. Shareholders of record on Friday, March 8th were given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.31%. This is a boost from Acushnet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, March 7th. Acushnet’s payout ratio is 29.76%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Acushnet

In related news, insider John Francis Duke, Jr. sold 17,000 shares of the company’s 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 owns 130,472 shares in the company, valued at approximately $8,391,959.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Brendan J. Reidy sold 9,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the completion of the sale, the insider now owns 130,472 shares of the company’s stock, valued at approximately $8,391,959.04. The disclosure for this sale can be found here. Corporate insiders own 54.60% 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.