Martingale Asset Management L P lifted its stake in shares of Scholastic Co. (NASDAQ:SCHL - Free Report) by 128.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,529 shares of the company's stock after buying an additional 27,812 shares during the period. Martingale Asset Management L P owned about 0.18% of Scholastic worth $1,585,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. nVerses Capital LLC purchased a new position in shares of Scholastic during the second quarter valued at approximately $35,000. Meeder Asset Management Inc. bought a new stake in Scholastic during the third quarter worth $46,000. Innealta Capital LLC bought a new stake in Scholastic during the second quarter worth $64,000. FMR LLC lifted its holdings in Scholastic by 58.8% during the third quarter. FMR LLC now owns 2,346 shares of the company's stock worth $75,000 after acquiring an additional 869 shares during the period. Finally, Commonwealth Equity Services LLC bought a new stake in Scholastic during the second quarter worth $279,000. Hedge funds and other institutional investors own 82.57% of the company's stock.
Shares of Scholastic stock opened at $26.38 on Monday. The business's fifty day simple moving average is $26.56 and its 200 day simple moving average is $30.95. The firm has a market capitalization of $742.33 million, a P/E ratio of 47.11 and a beta of 1.06. Scholastic Co. has a 12 month low of $23.69 and a 12 month high of $41.79. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 0.24.
Scholastic (NASDAQ:SCHL - Get Free Report) last issued its earnings results on Thursday, September 26th. The company reported ($2.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.48) by $0.35. The firm had revenue of $237.20 million for the quarter, compared to analyst estimates of $233.49 million. Scholastic had a return on equity of 4.32% and a net margin of 1.49%. During the same period in the previous year, the company posted ($2.20) earnings per share. As a group, analysts anticipate that Scholastic Co. will post 1.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.03%. Scholastic's payout ratio is 142.86%.
Separately, StockNews.com lowered Scholastic from a "buy" rating to a "hold" rating in a report on Saturday, October 5th.
Read Our Latest Stock Analysis on Scholastic
Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education Solutions, and International. The Children's Book Publishing and Distribution segment engages in publication and distribution of children's print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Scholastic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Scholastic wasn't on the list.
While Scholastic currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.