Dana Investment Advisors Inc. Invests $863,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Dana Investment Advisors Inc. purchased a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,146 shares of the company's stock, valued at approximately $863,000.

Several other institutional investors have also made changes to their positions in GOLF. Blue Trust Inc. increased its position in Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after purchasing an additional 176 shares during the last quarter. Robertson Stephens Wealth Management LLC grew its stake in shares of Acushnet by 8.4% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company's stock valued at $298,000 after buying an additional 326 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in Acushnet by 3.2% in 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 last quarter. SkyView Investment Advisors LLC raised its position in Acushnet by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company's stock valued at $1,324,000 after acquiring an additional 376 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its stake in Acushnet by 2.3% in the third quarter. OneDigital Investment Advisors LLC now owns 18,433 shares of the company's stock valued at $1,175,000 after acquiring an additional 413 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

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Acushnet Stock Performance

GOLF stock traded down $1.86 during mid-day trading on Wednesday, reaching $66.62. 597,161 shares of the stock traded hands, compared to its average volume of 345,416. The firm has a market capitalization of $3.99 billion, a PE ratio of 22.66 and a beta of 0.79. The business has a 50-day moving average of $68.46 and a two-hundred day moving average of $67.65. Acushnet Holdings Corp. has a 52 week low of $58.54 and a 52 week high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $445.17 billion during the quarter, compared to analysts' expectations of $454.83 million. As a group, equities analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.235 dividend. The ex-dividend date is Friday, March 7th. This is an increase from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.41%. Acushnet's dividend payout ratio is 28.23%.

Wall Street Analysts Forecast Growth

GOLF has been the topic of a number of recent research reports. Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and raised their price target for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. StockNews.com lowered Acushnet from a "buy" rating to a "hold" rating in a report on Saturday. KeyCorp decreased their price target on Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. downgraded 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 research note on Thursday, January 23rd. One research 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. According to MarketBeat, Acushnet currently has an average rating of "Hold" and a consensus price target of $72.80.

Insiders Place Their Bets

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now owns 96,006 shares in the company, valued at approximately $6,802,985.16. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 54.60% of the company's stock.

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.