MetLife Investment Advisors LLC cut its stake in shares of Acushnet Holdings Corp (NYSE:GOLF) by 35.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,893 shares of the company’s stock after selling 8,227 shares during the period. MetLife Investment Advisors LLC’s holdings in Acushnet were worth $314,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Advisor Group Inc. increased its holdings in shares of Acushnet by 29.9% during the fourth quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock worth $42,000 after buying an additional 457 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Acushnet by 0.3% during the fourth quarter. Raymond James & Associates now owns 238,268 shares of the company’s stock worth $5,020,000 after buying an additional 752 shares in the last quarter. Stone Ridge Asset Management LLC increased its holdings in shares of Acushnet by 1.6% during the fourth quarter. Stone Ridge Asset Management LLC now owns 47,382 shares of the company’s stock worth $998,000 after buying an additional 768 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Acushnet by 3.4% during the fourth quarter. California Public Employees Retirement System now owns 38,921 shares of the company’s stock worth $820,000 after buying an additional 1,273 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Acushnet by 170.3% during the fourth quarter. Advisors Asset Management Inc. now owns 2,587 shares of the company’s stock worth $55,000 after buying an additional 1,630 shares in the last quarter. Institutional investors own 50.85% of the company’s stock.
Shares of Acushnet stock opened at $24.43 on Wednesday. The company has a current ratio of 2.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Acushnet Holdings Corp has a twelve month low of $20.24 and a twelve month high of $27.87. The firm has a market capitalization of $1.81 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 2.33 and a beta of 0.87.
Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, February 28th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). Acushnet had a return on equity of 10.99% and a net margin of 6.11%. The business had revenue of $343.36 million during the quarter, compared to the consensus estimate of $340.46 million. As a group, sell-side analysts predict that Acushnet Holdings Corp will post 1.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.56 dividend on an annualized basis and a yield of 2.29%. This is a boost from Acushnet’s previous quarterly dividend of $0.13. Acushnet’s dividend payout ratio is 42.42%.
Several analysts recently weighed in on GOLF shares. TheStreet raised shares of Acushnet from a “c+” rating to a “b” rating in a research note on Friday, March 29th. Wells Fargo & Co reduced their price objective on shares of Acushnet from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Monday, March 4th. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 2nd. Stephens started coverage on shares of Acushnet in a research note on Tuesday, January 8th. They issued an “equal weight” rating on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Acushnet in a research note on Thursday, December 20th. They issued a “hold” rating and a $24.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $25.32.
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.
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