12th Street Asset Management Company LLC Increases Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

12th Street Asset Management Company LLC increased its position in Acushnet Holdings Corp. (NYSE:GOLF) by 170.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,883 shares of the company’s stock after acquiring an additional 76,126 shares during the period. Acushnet comprises approximately 1.4% of 12th Street Asset Management Company LLC’s holdings, making the stock its 25th largest position. 12th Street Asset Management Company LLC owned approximately 0.20% of Acushnet worth $8,592,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in Acushnet by 100.6% in 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 last quarter. Prospera Private Wealth LLC purchased a new position in Acushnet in the 3rd quarter worth approximately $41,000. Quarry LP raised its holdings in Acushnet by 745.6% in the 3rd quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after acquiring an additional 932 shares during the last quarter. Berry Wealth Group LP purchased a new position in Acushnet in the 4th quarter worth approximately $202,000. Finally, Heritage Family Offices LLP purchased a new stake in Acushnet in the fourth quarter worth approximately $205,000. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Compass Point upgraded shares of 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 report on Tuesday, March 4th. KeyCorp dropped their target price on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Acushnet currently has a consensus rating of “Hold” and a consensus price target of $72.80.

Insider Buying and Selling at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 96,006 shares of the company’s stock, valued at $6,802,985.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 54.60% of the company’s stock.

Acushnet Stock Down 3.1 %

Shares of GOLF stock opened at $64.34 on Friday. Acushnet Holdings Corp. has a 12 month low of $58.54 and a 12 month high of $76.65. The stock has a market cap of $3.86 billion, a P/E ratio of 21.88 and a beta of 0.79. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The company has a 50 day simple moving average of $68.22 and a two-hundred day simple moving average of $67.62.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. On average, research analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.235 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, March 7th. Acushnet’s dividend payout ratio (DPR) is 28.23%.

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.