Scholastic Co. (NASDAQ:SCHL) Stock Holdings Trimmed by Rhumbline Advisers

Rhumbline Advisers decreased its position in Scholastic Co. (NASDAQ:SCHL) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,361 shares of the company’s stock after selling 4,707 shares during the quarter. Rhumbline Advisers owned 0.29% of Scholastic worth $2,921,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SCHL. nVerses Capital LLC bought a new position in Scholastic in the second quarter worth about $35,000. Innealta Capital LLC acquired a new stake in shares of Scholastic during the 2nd quarter worth approximately $64,000. EntryPoint Capital LLC bought a new stake in shares of Scholastic in the 1st quarter worth approximately $129,000. Quest Partners LLC acquired a new position in Scholastic during the 4th quarter valued at approximately $172,000. Finally, Quent Capital LLC bought a new position in Scholastic during the 1st quarter worth $215,000. 82.57% of the stock is currently owned by institutional investors.

Scholastic Price Performance

SCHL opened at $31.61 on Thursday. The business has a 50 day moving average price of $31.68 and a two-hundred day moving average price of $34.59. The company has a market capitalization of $904.05 million, a price-to-earnings ratio of 21.80 and a beta of 1.03. Scholastic Co. has a 1-year low of $28.47 and a 1-year high of $41.79.

Scholastic (NASDAQ:SCHL) last released its earnings results on Thursday, July 18th. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.93). The business had revenue of $474.90 million during the quarter, compared to the consensus estimate of $552.50 million. Scholastic had a return on equity of 3.34% and a net margin of 0.76%. Equities analysts expect that Scholastic Co. will post 1.52 EPS for the current fiscal year.

Scholastic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Friday, August 30th. Scholastic’s payout ratio is 55.17%.

Insider Buying and Selling

In other news, EVP Iole Lucchese bought 1,654 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost of $30.49 per share, with a total value of $50,430.46. Following the transaction, the executive vice president now directly owns 74,264 shares in the company, valued at approximately $2,264,309.36. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Iole Lucchese bought 1,654 shares of Scholastic stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost of $30.49 per share, for a total transaction of $50,430.46. Following the acquisition, the executive vice president now owns 74,264 shares in the company, valued at $2,264,309.36. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Warwick Peter bought 1,674 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $30.46 per share, for a total transaction of $50,990.04. Following the completion of the purchase, the chief executive officer now directly owns 104,349 shares in the company, valued at approximately $3,178,470.54. The disclosure for this purchase can be found here. Company insiders own 18.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Scholastic from a “hold” rating to a “buy” rating in a research report on Tuesday, August 27th.

About 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.