Intech Investment Management LLC Invests $519,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Intech Investment Management LLC purchased a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,134 shares of the company's stock, valued at approximately $519,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Acushnet by 871.1% in the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company's stock worth $62,948,000 after purchasing an additional 889,515 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Acushnet in the 3rd quarter worth approximately $7,986,000. Thornburg Investment Management Inc. purchased a new position in shares of Acushnet during the 2nd quarter valued at $7,794,000. Point72 Asset Management L.P. raised its holdings in shares of Acushnet by 2,217.7% during the second quarter. Point72 Asset Management L.P. now owns 74,166 shares of the company's stock worth $4,708,000 after acquiring an additional 70,966 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in 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 in the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Insider Activity

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the sale, the insider now owns 88,710 shares of the company's stock, valued at $6,556,556.10. This represents a 5.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 54.60% of the stock is owned by corporate insiders.

Acushnet Price Performance

Shares of GOLF stock traded up $0.37 on Monday, reaching $73.48. The company had a trading volume of 265,659 shares, compared to its average volume of 309,363. 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 Holdings Corp. has a one year low of $56.34 and a one year high of $76.38. The stock has a market capitalization of $4.47 billion, a PE ratio of 24.87 and a beta of 0.85. The business's 50-day moving average is $65.56 and its 200 day moving average is $65.57.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $620.50 million for the quarter, compared to analyst estimates of $620.40 million. During the same period in the prior year, the firm earned $0.85 earnings per share. Acushnet's revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a yield of 1.17%. Acushnet's dividend payout ratio is presently 29.25%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOLF. Truist Financial upped their price target on Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a research note on Friday, November 8th. Jefferies Financial Group lowered Acushnet from a "buy" rating to a "hold" rating and lowered their target price for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Finally, Compass Point cut their target price on Acushnet from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $71.40.

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.