Shapiro Capital Management LLC Has $86.92 Million Holdings in Acushnet Holdings Corp (GOLF)
Shapiro Capital Management LLC cut its holdings in shares of Acushnet Holdings Corp (NYSE:GOLF) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,125,370 shares of the company’s stock after selling 252,800 shares during the quarter. Acushnet makes up 2.4% of Shapiro Capital Management LLC’s portfolio, making the stock its 20th largest position. Shapiro Capital Management LLC owned about 5.52% of Acushnet worth $86,922,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GOLF. Martingale Asset Management L P bought a new stake in Acushnet during the 3rd quarter worth about $217,000. Legal & General Group Plc lifted its position in Acushnet by 141.9% during the 3rd quarter. Legal & General Group Plc now owns 13,297 shares of the company’s stock worth $365,000 after buying an additional 7,801 shares in the last quarter. Teachers Advisors LLC lifted its position in Acushnet by 4.7% during the 3rd quarter. Teachers Advisors LLC now owns 64,943 shares of the company’s stock worth $1,781,000 after buying an additional 2,898 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Acushnet by 170.3% during the 4th 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. Finally, Rhumbline Advisers lifted its position in Acushnet by 43.5% during the 4th quarter. Rhumbline Advisers now owns 50,798 shares of the company’s stock worth $1,070,000 after buying an additional 15,389 shares in the last quarter. 50.64% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on GOLF shares. Stephens started coverage on shares of Acushnet in a research report on Tuesday, January 8th. They set an “equal weight” rating on the stock. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 2nd. Wells Fargo & Co cut their price target on shares of Acushnet from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Monday, March 4th. KeyCorp boosted their price target on shares of Acushnet from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Finally, Zacks Investment Research lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $25.32.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, March 14th. This is a positive change from Acushnet’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 2.36%. Acushnet’s payout ratio is currently 39.39%.
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Acushnet Company Profile
Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products worldwide. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear. The Titleist Golf Balls segment designs, manufactures, and sells golf balls under the Titleist brands, such as Tour Soft, Velocity, and DT TruSoft, as well as under the Pinnacle brand.
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