Neumeier Poma Investment Counsel LLC Invests $45.29 Billion in Acushnet $GOLF

Neumeier Poma Investment Counsel LLC acquired a new stake in Acushnet (NYSE:GOLF) in the 2nd quarter, Holdings Channel reports. The firm acquired 382,099 shares of the company’s stock, valued at approximately $45,290,194,000. Acushnet comprises 3.1% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 12th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc increased its position in Acushnet by 13.2% during the second quarter. Versant Capital Management Inc now owns 788 shares of the company’s stock worth $93,000 after acquiring an additional 92 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Acushnet by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company’s stock valued at $503,000 after purchasing an additional 100 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Acushnet by 1.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock valued at $1,090,000 after purchasing an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Acushnet by 3.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock valued at $336,000 after purchasing an additional 133 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position in Acushnet by 2.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company’s stock worth $461,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Buying and Selling

In related news, insider Nicholas N. Mohamed sold 529 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the sale, the insider owned 2,868 shares of the company’s stock, valued at $272,460. The trade was a 15.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Francis Pelisek sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total value of $1,368,900.00. Following the completion of the sale, the insider owned 70,512 shares in the company, valued at $6,434,925.12. This trade represents a 17.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 53.30% of the company’s stock.

Acushnet Trading Up 0.2%

Shares of Acushnet stock opened at $89.03 on Monday. The firm has a market capitalization of $5.20 billion, a PE ratio of 24.26 and a beta of 0.81. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48. The company’s fifty day moving average price is $104.68 and its two-hundred day moving average price is $98.27. Acushnet has a 52-week low of $73.09 and a 52-week high of $119.65.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, August 6th. The company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.45. The business had revenue of $819.95 million for the quarter, compared to analysts’ expectations of $788.24 million. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, analysts expect that Acushnet will post 4.02 EPS for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, September 4th. Acushnet’s dividend payout ratio is currently 27.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GOLF shares. JPMorgan Chase & Co. boosted their price objective on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Weiss Ratings upgraded shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Truist Financial lifted their target price on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded Acushnet from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $95.00 price target on shares of Acushnet in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $99.17.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.