10,500 Shares in Acushnet Holdings Corp. (NYSE:GOLF) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,500 shares of the company's stock, valued at approximately $746,000.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. grew its stake in shares of Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after acquiring an additional 176 shares during the period. Quarry LP boosted its position in Acushnet by 745.6% during the third quarter. Quarry LP now owns 1,057 shares of the company's stock worth $67,000 after purchasing an additional 932 shares during the period. Berry Wealth Group LP bought a new position in Acushnet during the fourth quarter worth about $202,000. Heritage Family Offices LLP purchased a new position in shares of Acushnet in the fourth quarter worth about $205,000. Finally, Leavell Investment Management Inc. bought a new stake in shares of Acushnet in the fourth quarter valued at approximately $210,000. 53.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the transaction, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 54.60% of the company's stock.

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Acushnet Price Performance

Shares of Acushnet stock traded down $8.82 during trading on Thursday, hitting $59.73. The stock had a trading volume of 1,061,290 shares, compared to its average volume of 356,430. 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 Holdings Corp. has a 12 month low of $58.54 and a 12 month high of $76.65. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 20.31 and a beta of 0.84. The business's 50-day moving average is $66.60 and its 200 day moving average is $67.74.

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

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.235 dividend. This is a positive change from Acushnet's previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.57%. Acushnet's dividend payout ratio is presently 28.23%.

Wall Street Analyst Weigh In

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