Lummis Asset Management LP Reduces Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Lummis Asset Management LP decreased its position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,642 shares of the company's stock after selling 4,855 shares during the quarter. Acushnet accounts for 2.7% of Lummis Asset Management LP's portfolio, making the stock its 11th largest position. Lummis Asset Management LP's holdings in Acushnet were worth $2,107,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Lisle Cummings Inc. purchased a new stake in shares of Acushnet during the 3rd quarter valued at about $40,000. Prospera Private Wealth LLC purchased a new stake in Acushnet in the third quarter worth approximately $41,000. nVerses Capital LLC bought a new stake in Acushnet in the 3rd quarter worth approximately $57,000. Quarry LP raised its stake in Acushnet by 745.6% during 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. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Acushnet by 1,719.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company's stock valued at $78,000 after buying an additional 1,152 shares during the period. Institutional investors own 53.12% of the company's stock.

Insider Activity

In related news, insider Christopher Aaron Lindner sold 5,000 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the sale, the insider now directly owns 88,710 shares in the company, valued at approximately $6,556,556.10. The trade was a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 54.60% of the company's stock.

Acushnet Stock Performance

Shares of Acushnet stock traded up $0.04 on Friday, hitting $73.70. 154,527 shares of the company's stock were exchanged, compared to its average volume of 216,684. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The stock has a market capitalization of $4.48 billion, a PE ratio of 25.07 and a beta of 0.88. Acushnet Holdings Corp. has a 1 year low of $58.54 and a 1 year high of $76.59. The company has a 50-day simple moving average of $72.02 and a 200-day simple moving average of $67.54.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $620.50 million during the quarter, compared to analyst estimates of $620.40 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. Acushnet's revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Truist Financial lifted their price objective on Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a report on Friday, November 8th.

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.