M&T Bank Corp Boosts Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

M&T Bank Corp raised its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 5.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 28,858 shares of the company’s stock after purchasing an additional 1,370 shares during the quarter. M&T Bank Corp’s holdings in Acushnet were worth $2,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in shares of Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after buying an additional 176 shares during the period. Robertson Stephens Wealth Management LLC raised its position in Acushnet by 8.4% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company’s stock worth $298,000 after acquiring an additional 326 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 valued at $678,000 after acquiring an additional 330 shares during the period. SkyView Investment Advisors LLC grew its stake in shares of Acushnet by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company’s stock worth $1,324,000 after purchasing an additional 376 shares during the period. Finally, OneDigital Investment Advisors LLC grew its stake in shares of Acushnet by 2.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 18,433 shares of the company’s stock worth $1,175,000 after purchasing an additional 413 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analyst Ratings Changes

GOLF has been the topic of a number of research analyst reports. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $77.00 to $80.00 in a report on Tuesday, March 4th. JPMorgan Chase & Co. downgraded shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. StockNews.com cut Acushnet from a “buy” rating to a “hold” rating in a report on Saturday. Finally, KeyCorp reduced their price objective on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.80.

Acushnet Stock Performance

Shares of GOLF opened at $68.40 on Monday. Acushnet Holdings Corp. has a 12-month low of $58.54 and a 12-month high of $76.65. The stock has a market cap of $4.10 billion, a P/E ratio of 23.27 and a beta of 0.79. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average of $68.51 and a two-hundred day moving average of $67.61.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.31. The firm had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. As a group, research analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a $0.235 dividend. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, March 7th. Acushnet’s dividend payout ratio is presently 28.23%.

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.