12th Street Asset Management Company LLC Boosts Stake in Acushnet Holdings Corp. (NYSE:GOLF)

12th Street Asset Management Company LLC has significantly increased its investment in Acushnet Holdings Corp. (NYSE:GOLF) by an impressive 170.1% during the fourth quarter, as revealed in its latest filings with the Securities and Exchange Commission. Following this acquisition, the fund now holds 120,883 shares of Acushnet's stock, after adding 76,126 new shares during the quarter. Acushnet now represents roughly 1.4% of 12th Street Asset Management's total holdings, making it the company’s 25th largest investment. By the end of the latest quarter, the value of 12th Street Asset Management's stake in Acushnet was approximately $8,592,000, or about 0.20% of the company’s total market capitalization.

Other investment firms have also made changes to their positions in Acushnet. Blue Trust Inc. increased its shares by 100.6% during the same quarter, obtaining a total of 351 shares valued at $25,000 after purchasing an additional 176 shares. Moreover, Prospera Private Wealth LLC established a new investment in Acushnet during the third quarter, worth about $41,000. Quarry LP saw a substantial increase of 745.6% in its holdings, now owning 1,057 shares worth approximately $67,000 after acquiring 932 additional shares. Berry Wealth Group LP and Heritage Family Offices LLP also entered new stakes in the fourth quarter, valued at around $202,000 and $205,000, respectively. Currently, institutional investors and hedge funds hold roughly 53.12% of Acushnet’s stock.

Stock Performance and Analyst Ratings

Several analysts have recently reviewed Acushnet's stock. In a report dated March 4, Compass Point upgraded its rating from "neutral" to "buy," increasing the target price from $77.00 to $80.00. Conversely, KeyCorp lowered its target price from $80.00 to $77.00 while maintaining an "overweight" rating. Recently, on January 23, JPMorgan Chase & Co. downgraded the shares from "neutral" to "underweight" and decreased the target price from $69.00 to $64.00. Additionally, StockNews.com shifted its rating from "buy" to "hold" on March 8. Currently, the consensus rating for Acushnet is "Hold" with an average price target of $72.80.

Insider Trading Activity

In recent developments, Steven Francis Pelisek, an insider at Acushnet, sold 20,000 shares on March 10 at an average price of $70.86, totaling approximately $1,417,200. Following this transaction, Pelisek's remaining stock ownership stands at 96,006 shares, valued at around $6,802,985. This sale represents a decrease of 17.24% in his stake. The transfer was made public through a filing with the Securities and Exchange Commission. Notably, insiders currently own about 54.60% of Acushnet's shares.

Current Stock Overview

As of the recent trading session, Acushnet's stock opened at $64.34. It has recorded a 12-month low of $58.54 and a high of $76.65. The company’s market capitalization is approximately $3.86 billion, with a price-to-earnings ratio of 21.88 and a beta of 0.79. Financial metrics include a current ratio of 2.10, a quick ratio of 1.14, and a debt-to-equity ratio of 0.79. Acushnet's simple moving averages are 50-day at $68.22 and 200-day at $67.62.

Financial Performance and Dividends

Acushnet last reported its quarterly earnings on February 27, showing a loss of ($0.02) per share, which was better than the consensus estimate of ($0.33) by $0.31. The company achieved a net margin of 7.78% and a return on equity of 21.45%. Revenue reported for the quarter was $445.17 million, compared to expectations of $454.83 million. Analysts predict that Acushnet Holdings Corp. will report an earnings per share (EPS) of 3.06 for the current year.

Additionally, Acushnet recently announced an increase in its quarterly dividend. Shareholders will receive a dividend of $0.235 per share on March 21, up from the previous dividend of $0.22. This adjustment reflects an annualized dividend of $0.94, yielding 1.46%. The record date for the dividend is March 7, and the payout ratio stands at 28.23%.

About Acushnet Holdings Corp.

Acushnet Holdings Corp. specializes in designing, manufacturing, and distributing golf products across various regions, including the United States, Europe, the Middle East, Africa, Japan, Korea, and other international markets. The company operates through four main segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.

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