Acushnet Holdings Corp. (NYSE:GOLF) Shares Acquired by 12th Street Asset Management Company LLC

12th Street Asset Management Company LLC increased its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 170.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,883 shares of the company's stock after purchasing an additional 76,126 shares during the period. Acushnet accounts for about 1.4% of 12th Street Asset Management Company LLC's holdings, making the stock its 25th biggest holding. 12th Street Asset Management Company LLC owned approximately 0.20% of Acushnet worth $8,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GOLF. Blue Trust Inc. boosted its position in Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock valued at $25,000 after buying an additional 176 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Acushnet in the 3rd quarter valued at about $41,000. Quarry LP boosted its position in Acushnet by 745.6% in the 3rd quarter. Quarry LP now owns 1,057 shares of the company's stock valued at $67,000 after buying an additional 932 shares during the last quarter. Berry Wealth Group LP purchased a new position in Acushnet in the 4th quarter valued at about $202,000. Finally, Heritage Family Offices LLP purchased a new position in Acushnet in the 4th quarter valued at about $205,000. 53.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the transaction, the insider now owns 96,006 shares in the company, valued at $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 54.60% of the stock is owned by company insiders.

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Acushnet Stock Performance

GOLF traded up $0.12 on Tuesday, hitting $65.98. 424,620 shares of the company's stock were exchanged, compared to its average volume of 343,454. The firm has a market cap of $3.95 billion, a PE ratio of 22.44 and a beta of 0.79. Acushnet Holdings Corp. has a twelve month low of $58.54 and a twelve month high of $76.65. The stock has a fifty day moving average of $67.98 and a two-hundred day moving average of $67.61. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. On average, research analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.235 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.94 annualized dividend and a dividend yield of 1.42%. This is a positive change from Acushnet's previous quarterly dividend of $0.22. Acushnet's dividend payout ratio (DPR) is presently 28.23%.

Wall Street Analysts Forecast Growth

GOLF has been the topic of several research analyst reports. Compass Point raised shares of Acushnet from a "neutral" rating to a "buy" rating and increased their price target for the stock from $77.00 to $80.00 in a research report on Tuesday, March 4th. StockNews.com cut shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. JPMorgan Chase & Co. cut shares of Acushnet from a "neutral" rating to an "underweight" rating and reduced their price target for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Finally, KeyCorp reduced their price target on shares of Acushnet from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $72.80.

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.