Acushnet Holdings Corp. (NYSE:GOLF) Shares Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV increased its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,305 shares of the company’s stock after buying an additional 173 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Acushnet were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Acushnet by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 2,995,230 shares of the company’s stock valued at $189,209,000 after purchasing an additional 20,547 shares during the period. Wellington Management Group LLP increased its holdings in shares of Acushnet by 1.3% during the 4th quarter. Wellington Management Group LLP now owns 1,964,870 shares of the company’s stock worth $124,121,000 after buying an additional 25,869 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Acushnet by 8.0% in the third quarter. Ameriprise Financial Inc. now owns 965,654 shares of the company’s stock valued at $51,221,000 after acquiring an additional 71,263 shares during the last quarter. London Co. of Virginia grew its position in Acushnet by 1.1% during the third quarter. London Co. of Virginia now owns 396,096 shares of the company’s stock valued at $21,009,000 after acquiring an additional 4,208 shares during the period. Finally, FMR LLC increased its stake in Acushnet by 1.7% during the third quarter. FMR LLC now owns 356,913 shares of the company’s stock worth $18,931,000 after acquiring an additional 5,909 shares during the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Stock Up 1.1 %

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

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.19. The firm had revenue of $707.55 million for the quarter, compared to analysts’ expectations of $692.41 million. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. On average, sell-side analysts predict that Acushnet Holdings Corp. will post 3.12 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Friday, June 7th. Acushnet’s dividend payout ratio is presently 29.86%.

Analysts Set New Price Targets

GOLF has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Truist Financial increased their price target on Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $66.38.

About Acushnet

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.