MetLife Investment Management LLC Has $1.13 Million Holdings in Acushnet $GOLF

MetLife Investment Management LLC lessened its holdings in shares of Acushnet (NYSE:GOLF) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,436 shares of the company’s stock after selling 873 shares during the quarter. MetLife Investment Management LLC’s holdings in Acushnet were worth $1,128,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in Acushnet during the 1st quarter worth $629,000. American Century Companies Inc. raised its stake in Acushnet by 9.9% during the 1st quarter. American Century Companies Inc. now owns 20,742 shares of the company’s stock worth $1,424,000 after buying an additional 1,860 shares during the period. Praxis Investment Management Inc. acquired a new stake in Acushnet during the 1st quarter worth $290,000. Mackenzie Financial Corp acquired a new stake in Acushnet during the 1st quarter worth $273,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Acushnet by 6.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company’s stock worth $240,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Activity

In related news, Director Holdings Corp. Misto sold 953,406 shares of Acushnet stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the completion of the transaction, the director owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mary Louise Bohn sold 13,190 shares of Acushnet stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $78.85, for a total value of $1,040,031.50. Following the transaction, the insider owned 191,786 shares of the company’s stock, valued at $15,122,326.10. The trade was a 6.43% decrease in their position. The disclosure for this sale can be found here. 53.60% of the stock is owned by company insiders.

Acushnet Price Performance

Shares of NYSE GOLF opened at $76.11 on Friday. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 20.35 and a beta of 0.90. The business has a 50-day moving average of $78.12 and a 200-day moving average of $70.74. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.25 and a quick ratio of 1.21. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $84.40.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.08). The company had revenue of $720.48 million during the quarter, compared to the consensus estimate of $713.70 million. Acushnet had a net margin of 9.24% and a return on equity of 28.05%. Acushnet’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 EPS. As a group, sell-side analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.235 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. Acushnet’s dividend payout ratio (DPR) is presently 25.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GOLF shares. Morgan Stanley increased their target price on Acushnet from $63.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. KeyCorp increased their target price on Acushnet from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Truist Financial increased their target price on Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Finally, Zacks Research cut Acushnet from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $73.33.

About Acushnet

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.