Bank of New York Mellon Corp Purchases 18,036 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Bank of New York Mellon Corp increased its position in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 271,995 shares of the company's stock after purchasing an additional 18,036 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.45% of Acushnet worth $19,333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Acushnet by 6.7% during the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company's stock valued at $64,632,000 after acquiring an additional 63,294 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Acushnet in the third quarter worth about $1,443,000. FMR LLC increased its position in Acushnet by 2.5% in the third quarter. FMR LLC now owns 441,069 shares of the company's stock worth $28,118,000 after purchasing an additional 10,762 shares during the period. Tidal Investments LLC acquired a new stake in Acushnet in the third quarter worth about $508,000. Finally, GSA Capital Partners LLP acquired a new stake in Acushnet in the third quarter worth about $654,000. 53.12% of the stock is owned by institutional investors.

Acushnet Stock Up 1.5 %

NYSE GOLF traded up $0.97 during trading on Friday, hitting $65.37. The stock had a trading volume of 423,571 shares, compared to its average volume of 347,294. The company has a market capitalization of $3.92 billion, a PE ratio of 22.24 and a beta of 0.79. The company's 50-day moving average price is $68.22 and its two-hundred day moving average price is $67.62. 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 Holdings Corp. has a 12 month low of $58.54 and a 12 month high of $76.65.

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Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion for the quarter, compared to analysts' expectations of $454.83 million. As a group, sell-side analysts forecast 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. Investors of record on Friday, March 7th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.44%. Acushnet's payout ratio is presently 28.23%.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the transaction, the insider now directly owns 96,006 shares of the company's stock, valued at $6,802,985.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 54.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOLF shares. StockNews.com lowered Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Compass Point upgraded Acushnet from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $77.00 to $80.00 in a research report on Tuesday, March 4th. JPMorgan Chase & Co. cut Acushnet from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, KeyCorp cut their price objective on Acushnet from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $72.80.

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.