Moody Aldrich Partners LLC Purchases 17,222 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Moody Aldrich Partners LLC increased its position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 34.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,810 shares of the company's stock after buying an additional 17,222 shares during the period. Moody Aldrich Partners LLC owned 0.11% of Acushnet worth $4,323,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in shares of Acushnet during the 1st quarter worth approximately $27,000. Brown Lisle Cummings Inc. acquired a new position in shares of Acushnet during the 3rd quarter valued at $40,000. nVerses Capital LLC bought a new position in Acushnet during the third quarter worth $57,000. Benjamin F. Edwards & Company Inc. grew its holdings in Acushnet by 101.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company's stock worth $76,000 after purchasing an additional 585 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Acushnet by 1,719.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company's stock valued at $78,000 after purchasing an additional 1,152 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company's stock.

Acushnet Stock Up 0.3 %

GOLF traded up $0.19 during midday trading on Thursday, reaching $60.41. 188,288 shares of the company were exchanged, compared to its average volume of 306,966. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 20.97 and a beta of 0.84. Acushnet Holdings Corp. has a one year low of $49.42 and a one year high of $74.77. The company's fifty day moving average price is $64.42 and its 200 day moving average price is $64.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.09). Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The company had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. During the same quarter last year, the company posted $1.09 EPS. The company's quarterly revenue was down .8% compared to the same quarter last year. As a group, analysts expect that Acushnet Holdings Corp. will post 3.02 EPS for the current year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, September 6th. Acushnet's payout ratio is currently 29.86%.

Insider Buying and Selling

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.19, for a total value of $71,250,900.00. Following the completion of the transaction, the director now directly owns 31,412,966 shares of the company's stock, valued at $2,016,398,287.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 54.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on GOLF shares. Compass Point reduced 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. Jefferies Financial Group cut Acushnet from a "buy" rating to a "hold" rating and reduced their price objective for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Finally, Truist Financial upped their target price on Acushnet from $63.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Acushnet has a consensus rating of "Hold" and a consensus target price of $67.43.

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.