Handelsbanken Fonder AB Grows Position in Acushnet Holdings Corp. (NYSE:GOLF)

Handelsbanken Fonder AB boosted its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,500 shares of the company’s stock after purchasing an additional 1,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Acushnet were worth $746,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after purchasing an additional 176 shares during the period. Robertson Stephens Wealth Management LLC grew its stake in Acushnet by 8.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company’s stock worth $298,000 after buying an additional 326 shares during the period. Orion Portfolio Solutions LLC grew its stake in Acushnet by 3.2% during the third quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company’s stock worth $678,000 after buying an additional 330 shares during the period. SkyView Investment Advisors LLC grew its stake in Acushnet by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company’s stock worth $1,324,000 after buying an additional 376 shares during the period. Finally, OneDigital Investment Advisors LLC grew its stake in Acushnet by 2.3% during the third quarter. OneDigital Investment Advisors LLC now owns 18,433 shares of the company’s stock worth $1,175,000 after buying an additional 413 shares during the period. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOLF. KeyCorp decreased their target price on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday. JPMorgan Chase & Co. downgraded shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. StockNews.com upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Truist Financial increased their price objective on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $72.00.

Acushnet Stock Down 0.9 %

Shares of NYSE:GOLF opened at $64.29 on Friday. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 21.87 and a beta of 0.86. Acushnet Holdings Corp. has a 1-year low of $58.54 and a 1-year high of $76.65. The company’s fifty day moving average is $69.06 and its two-hundred day moving average is $67.60. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.31. The company had revenue of $445.17 billion for the quarter, compared to analysts’ expectations of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Equities analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.46%. This is a boost from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 7th. Acushnet’s dividend payout ratio is 25.83%.

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.