Acushnet (NYSE:GOLF) Announces Quarterly Dividend of $0.26

Acushnet (NYSE:GOLF) announced a quarterly dividend on Wednesday, May 6th. Investors of record on Friday, June 5th will be given a dividend of 0.255 per share on Monday, June 22nd. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 5th.

Acushnet has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 8 years. Acushnet has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Acushnet to earn $4.02 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 25.4%.

Acushnet Stock Down 8.3%

Acushnet stock opened at $85.97 on Thursday. The stock has a market cap of $5.03 billion, a PE ratio of 27.73 and a beta of 0.88. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.97 and a current ratio of 2.38. Acushnet has a one year low of $64.97 and a one year high of $104.81. The stock has a fifty day moving average of $95.90 and a 200 day moving average of $90.02.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The firm had revenue of $752.98 million for the quarter, compared to analysts’ expectations of $722.48 million. Acushnet had a net margin of 7.37% and a return on equity of 25.49%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 EPS. As a group, sell-side analysts predict that Acushnet will post 3.77 EPS for the current year.

Insider Buying and Selling

In related news, Director Gregory A. Hewett sold 4,206 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total value of $420,600.00. Following the transaction, the director directly owned 37,017 shares of the company’s stock, valued at approximately $3,701,700. The trade was a 10.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Acushnet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOLF. Fisher Asset Management LLC boosted its stake in Acushnet by 238.0% during the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock valued at $55,269,000 after buying an additional 495,794 shares during the last quarter. Morgan Stanley boosted its stake in Acushnet by 22.3% during the fourth quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock valued at $110,091,000 after buying an additional 251,889 shares during the last quarter. Tributary Capital Management LLC boosted its stake in Acushnet by 92.6% during the third quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock valued at $35,908,000 after buying an additional 219,895 shares during the last quarter. M&T Bank Corp boosted its stake in Acushnet by 668.1% during the fourth quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock valued at $12,761,000 after buying an additional 139,060 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC boosted its stake in Acushnet by 51.7% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company’s stock valued at $30,685,000 after buying an additional 130,990 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

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.