Amica Mutual Insurance Co. Acquires 12,708 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Amica Mutual Insurance Co. lifted its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 21.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,254 shares of the company’s stock after buying an additional 12,708 shares during the period. Amica Mutual Insurance Co. owned about 0.11% of Acushnet worth $4,501,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. purchased a new position in Acushnet in the fourth quarter worth about $32,000. FSC Wealth Advisors LLC bought a new position in shares of Acushnet during the 3rd quarter valued at approximately $37,000. First Horizon Advisors Inc. raised its holdings in Acushnet by 43.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock valued at $38,000 after buying an additional 215 shares during the period. GW Henssler & Associates Ltd. bought a new stake in Acushnet in the third quarter worth $201,000. Finally, Linden Thomas Advisory Services LLC purchased a new position in Acushnet during the fourth quarter worth $216,000. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOLF has been the subject of a number of recent analyst reports. KeyCorp lifted their price target on shares of Acushnet from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Truist Financial boosted their target price on Acushnet from $55.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.71.

Acushnet Stock Down 0.4 %

Shares of NYSE GOLF traded down $0.25 during trading hours on Monday, hitting $61.98. 461,383 shares of the stock were exchanged, compared to its average volume of 348,523. The company has a market cap of $3.92 billion, a PE ratio of 21.45 and a beta of 0.87. Acushnet Holdings Corp. has a 12 month low of $43.62 and a 12 month high of $70.10. The company has a quick ratio of 0.84, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The firm has a fifty day moving average price of $64.36 and a 200-day moving average price of $61.33.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.03). Acushnet had a net margin of 8.33% and a return on equity of 20.09%. The business had revenue of $413.00 million for the quarter, compared to analysts’ expectations of $429.16 million. The company’s revenue was down 7.7% on a year-over-year basis. On average, sell-side analysts expect that Acushnet Holdings Corp. will post 3.17 EPS for the current year.

Acushnet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a dividend of $0.215 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, March 7th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.39%. Acushnet’s payout ratio is presently 29.76%.

Insider Activity

In other news, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction on Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the completion of the sale, the insider now directly owns 130,472 shares in the company, valued at $8,391,959.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Brendan J. Reidy sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total value of $580,410.00. Following the sale, the insider now owns 58,588 shares in the company, valued at $3,778,340.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Francis Duke, Jr. sold 17,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the completion of the transaction, the insider now owns 130,472 shares in the company, valued at approximately $8,391,959.04. The disclosure for this sale can be found here. Corporate insiders own 54.10% of the company’s stock.

Acushnet 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.