Ceredex Value Advisors LLC Buys Shares of 59,500 Acushnet $GOLF

Ceredex Value Advisors LLC purchased a new position in shares of Acushnet (NYSE:GOLF) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 59,500 shares of the company’s stock, valued at approximately $7,053,000. Ceredex Value Advisors LLC owned about 0.10% of Acushnet at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. NewEdge Wealth LLC acquired a new position in shares of Acushnet during the 2nd quarter worth about $4,648,000. Great Lakes Advisors LLC acquired a new stake in shares of Acushnet in the 2nd quarter valued at approximately $222,000. First National Bank of Omaha acquired a new stake in shares of Acushnet in the 2nd quarter valued at approximately $441,000. BlackRock Inc. bought a new position in Acushnet during the 2nd quarter worth approximately $496,463,000. Finally, Deutsche Bank AG bought a new stake in Acushnet in the second quarter valued at approximately $3,932,000. 53.12% of the stock is owned by institutional investors.

Acushnet Trading Down 0.2%

Shares of NYSE:GOLF opened at $89.03 on Friday. Acushnet has a 12-month low of $73.09 and a 12-month high of $119.65. The stock has a market cap of $5.20 billion, a PE ratio of 24.26 and a beta of 0.81. The business has a 50 day moving average of $104.68 and a 200-day moving average of $98.27. The company has a quick ratio of 1.48, a current ratio of 2.55 and a debt-to-equity ratio of 1.01.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.63 by $0.45. The business had revenue of $819.95 million for the quarter, compared to the consensus estimate of $788.24 million. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. Acushnet’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, equities research analysts forecast that Acushnet will post 4.02 earnings per share for the current year.

Acushnet Dividend Announcement

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

Insider Buying and Selling

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were 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 in the company, valued at $272,460. This trade represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven Francis Pelisek sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the completion of the transaction, the insider directly owned 70,512 shares of the company’s stock, valued at approximately $6,434,925.12. The trade was a 17.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 53.30% of the company’s stock.

Analyst Ratings Changes

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

About Acushnet

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.