Price T Rowe Associates Inc. MD buys 933 shares of Acushnet Holdings Corp. (NYSE:GOLF)

VaselineAugust 10, 2024

0 3 minutes read

Price T Rowe Associates Inc. MD increased its holdings in Acushnet Holdings Corp. (NYSE:GOLF – Free Report) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,527 shares of the company’s stock after purchasing an additional 933 shares during the period. Price T Rowe Associates Inc Holdings MD’s holdings in Acushnet were worth $1,354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. raised its position in shares of Acushnet by 29.0% in the first quarter. Sei Investments Co. now owns 96,624 shares of the company’s stock worth $6,372,000 after purchasing an additional 21,730 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Acushnet in the 1st quarter worth approximately $2,026,000. Seven Eight Capital LP purchased a new stake in shares of Acushnet during the fourth quarter valued at $1,363,000. Strs Ohio purchased a new stake in Acushnet during the fourth quarter valued at $890,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Acushnet in the fourth quarter valued at approximately $9,318,000. Hedge funds and other institutional investors own 53.12% of the company’s shares.

Analyst upgrades and downgrades

Several brokerages recently commented on GOLF. Truist Financial upped their target price on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday. Compass Point decreased their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $68.63, according to MarketBeat.

Want more great investment ideas?

Check out the latest stock analysis on Acushnet

Acushnet stock performance

Shares of Acushnet stock opened at $67.41 on Friday. The company’s 50-day moving average is $65.82, and its two-hundred-day moving average is $64.88. Acushnet Holdings Corp. it has a 52-week low of $49.42 and a 52-week high of $74.77. The company has a quick ratio of 1.46, a current ratio of 2.69, and a debt-to-equity ratio of 0.91. The firm has a market cap of $4.25 billion, a P/E ratio of 23.40 and a beta of 0.85.

Acushnet (NYSE:GOLF – Get Your Free Report ) last posted its quarterly 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 8.03% and a return on equity of 20.65%. The firm had revenue of $683.90 million for the quarter, compared to analyst estimates of $709.83 million. During the same period last year, the company posted earnings of $1.09 per share. The company’s revenue fell 0.8% year over year. Research analysts estimate that Acushnet Holdings Corp. will post 3.12 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.215 per share. This represents a dividend of $0.86 on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, September 6. Acushnet’s dividend payout ratio (DPR) is 29.86%.

Insider buying and selling at Acushnet

In other news, Director Holdings Corp. Fila sold 587,520 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the completion of the sale, the director now owns 32,522,966 shares of the company’s stock, valued at approximately $2,075,940,919.78. The sale was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. Insiders own 54.60% of the company’s shares.

Acushnet profile

(Free Report)

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 Equipment and FootJoy Golf Wear.