Lummis Asset Management LP Trims Position in Acushnet Holdings Corp. (NYSE:GOLF)

Lummis Asset Management LP decreased its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 14.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,642 shares of the company’s stock after selling 4,855 shares during the quarter. Acushnet comprises approximately 2.7% of Lummis Asset Management LP’s portfolio, making the stock its 11th biggest position. Lummis Asset Management LP’s holdings in Acushnet were worth $2,107,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. SkyView Investment Advisors LLC raised its holdings in Acushnet by 0.9% in the 2nd quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock worth $1,295,000 after purchasing an additional 187 shares in the last quarter. Azzad Asset Management Inc. ADV raised its stake in Acushnet by 2.0% in the third quarter. Azzad Asset Management Inc. ADV now owns 10,221 shares of the company’s stock worth $652,000 after buying an additional 204 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Acushnet by 3.2% in the third quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company’s stock worth $678,000 after buying an additional 330 shares during the period. Creative Planning boosted its position in Acushnet by 5.1% during the 2nd quarter. Creative Planning now owns 7,194 shares of the company’s stock valued at $457,000 after acquiring an additional 349 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its position in Acushnet by 2.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 18,433 shares of the company’s stock valued at $1,175,000 after acquiring an additional 413 shares in the last quarter. Institutional investors own 53.12% of the company’s stock.

Insider Transactions at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $73.91, for a total value of $369,550.00. Following the transaction, the insider now owns 88,710 shares in the company, valued at approximately $6,556,556.10. This represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial increased their target price on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th.

Acushnet Stock Up 0.1 %

Shares of Acushnet stock opened at $73.70 on Friday. Acushnet Holdings Corp. has a 1 year low of $58.54 and a 1 year high of $76.59. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The company has a 50-day moving average of $72.02 and a 200 day moving average of $67.50. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 25.07 and a beta of 0.88.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business had revenue of $620.50 million during the quarter, compared to the consensus estimate of $620.40 million. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.17%. The ex-dividend date was Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is 29.25%.

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.