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

Azzad Asset Management Inc. ADV raised its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 24.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,506 shares of the company’s stock after buying an additional 2,641 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Acushnet were worth $927,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Acushnet by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company’s stock valued at $107,097,000 after buying an additional 5,661 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Acushnet by 5.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company’s stock valued at $76,654,000 after buying an additional 54,314 shares during the last quarter. Principal Financial Group Inc. raised its stake in Acushnet by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company’s stock valued at $72,783,000 after buying an additional 10,166 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Acushnet during the fourth quarter valued at $62,713,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Acushnet in the fourth quarter worth $28,641,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Stock Performance

Shares of GOLF opened at $69.86 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. Acushnet Holdings Corp. has a one year low of $55.31 and a one year high of $76.65. The firm has a market capitalization of $4.11 billion, a P/E ratio of 23.76 and a beta of 0.84. The business has a fifty day moving average of $66.68 and a 200 day moving average of $68.05.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.32 by $0.30. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $703.37 million during the quarter, compared to analyst estimates of $697.82 million. During the same quarter in the previous year, the company posted $1.35 earnings per share. Acushnet’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, June 6th. Acushnet’s dividend payout ratio is presently 26.11%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GOLF shares. Truist Financial boosted their price target on Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Wall Street Zen cut Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. KeyCorp boosted their price target on Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Finally, Compass Point cut Acushnet from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.00.

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.