Azzad Asset Management Inc. ADV Increases Position in Acushnet Holdings Corp. (NYSE:GOLF)

Azzad Asset Management Inc. ADV lifted its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,305 shares of the company’s stock after buying an additional 173 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Acushnet were worth $614,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Acushnet by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 2,995,230 shares of the company’s stock worth $189,209,000 after buying an additional 20,547 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Acushnet by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 1,964,870 shares of the company’s stock worth $124,121,000 after purchasing an additional 25,869 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Acushnet by 8.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 965,654 shares of the company’s stock worth $51,221,000 after purchasing an additional 71,263 shares during the period. London Co. of Virginia raised its holdings in shares of Acushnet by 1.1% in the 3rd quarter. London Co. of Virginia now owns 396,096 shares of the company’s stock worth $21,009,000 after purchasing an additional 4,208 shares during the period. Finally, FMR LLC raised its holdings in shares of Acushnet by 1.7% in the 3rd quarter. FMR LLC now owns 356,913 shares of the company’s stock worth $18,931,000 after purchasing an additional 5,909 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GOLF shares. Truist Financial lifted their price target on shares of Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $66.38.

Acushnet Price Performance

Shares of Acushnet stock traded up $0.70 during trading on Wednesday, hitting $61.95. The stock had a trading volume of 29,439 shares, compared to its average volume of 319,421. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 21.27 and a beta of 0.85. Acushnet Holdings Corp. has a 12 month low of $49.42 and a 12 month high of $70.10. The business’s 50-day moving average is $63.89 and its 200 day moving average is $64.16. The company has a current ratio of 2.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91.

Acushnet (NYSE:GOLF) last announced its earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.19. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. The company had revenue of $707.55 million during the quarter, compared to analyst estimates of $692.41 million. As a group, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.12 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a $0.215 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.86 annualized dividend and a yield of 1.39%. Acushnet’s dividend payout ratio (DPR) is presently 29.86%.

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.