Acushnet Holdings Corp. (NYSE:GOLF) Shares Purchased by Lummis Asset Management LP

Lummis Asset Management LP boosted its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 11.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 34,497 shares of the company’s stock after acquiring an additional 3,574 shares during the quarter. Acushnet accounts for about 2.6% of Lummis Asset Management LP’s portfolio, making the stock its 12th biggest holding. Lummis Asset Management LP owned 0.06% of Acushnet worth $2,199,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in shares of Acushnet during the first quarter worth approximately $27,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Acushnet during the third quarter worth $40,000. nVerses Capital LLC purchased a new stake in shares of Acushnet during the third quarter worth $57,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of 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 worth $78,000 after buying an additional 1,152 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Acushnet in the second quarter worth about $83,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Trading Up 0.6 %

Acushnet stock traded up $0.38 during mid-day trading on Thursday, hitting $69.02. The company’s stock had a trading volume of 25,083 shares, compared to its average volume of 313,040. Acushnet Holdings Corp. has a 1 year low of $55.74 and a 1 year high of $76.38. 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 firm has a market capitalization of $4.20 billion, a PE ratio of 23.35 and a beta of 0.85. The stock’s fifty day moving average is $63.94 and its two-hundred day moving average is $64.87.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm had revenue of $620.50 million during the quarter, compared to the consensus estimate of $620.40 million. During the same period last year, the company earned $0.85 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.25%. Acushnet’s dividend payout ratio is currently 29.25%.

Wall Street Analyst Weigh In

GOLF has been the subject of a number of recent research reports. Compass Point cut their price objective on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and cut their price target for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Finally, Truist Financial boosted their price objective on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $71.40.

Acushnet Company 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.