Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) insider Thomas Pacheco sold 20,000 shares of Acushnet stock in a transaction on Monday, March 6th. The stock was sold at an average price of $51.92, for a total transaction of $1,038,400.00. Following the completion of the transaction, the insider now directly owns 60,368 shares of the company’s stock, valued at $3,134,306.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Acushnet Price Performance
Acushnet stock opened at $50.70 on Thursday. The firm has a 50-day moving average price of $47.76 and a 200-day moving average price of $46.66. The firm has a market capitalization of $3.39 billion, a PE ratio of 18.57 and a beta of 0.77. The company has a current ratio of 1.93, a quick ratio of 0.70 and a debt-to-equity ratio of 0.54. Acushnet Holdings Corp. has a 12-month low of $37.46 and a 12-month high of $54.11.
Acushnet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a dividend of $0.195 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.78 dividend on an annualized basis and a yield of 1.54%. Acushnet’s dividend payout ratio (DPR) is presently 28.57%.
Wall Street Analyst Weigh In
A number of brokerages have commented on GOLF. Stephens lifted their price objective on shares of Acushnet from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 2nd. Morgan Stanley lifted their price objective on shares of Acushnet from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday, March 3rd. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Acushnet currently has a consensus rating of “Hold” and a consensus target price of $49.50.
Institutional Investors Weigh In On Acushnet
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOLF. MetLife Investment Management LLC lifted its holdings in Acushnet by 55.2% during the 1st quarter. MetLife Investment Management LLC now owns 19,154 shares of the company’s stock valued at $771,000 after buying an additional 6,810 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in Acushnet during the 1st quarter valued at about $270,000. Dimensional Fund Advisors LP lifted its holdings in Acushnet by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,671 shares of the company’s stock valued at $61,630,000 after buying an additional 64,464 shares in the last quarter. Aviva PLC lifted its holdings in Acushnet by 10.1% during the 1st quarter. Aviva PLC now owns 51,962 shares of the company’s stock valued at $2,092,000 after buying an additional 4,766 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Acushnet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 3,126,762 shares of the company’s stock valued at $125,883,000 after purchasing an additional 24,312 shares during the period. Institutional investors own 49.39% of the company’s stock.
Acushnet Company Profile
Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of performance-driven golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment is involved in the design and manufacture of golf balls.
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