Martingale Asset Management L P Buys 27,812 Shares of Scholastic Co. (NASDAQ:SCHL)

Martingale Asset Management L P raised its holdings in shares of Scholastic Co. (NASDAQ:SCHL) by 128.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 49,529 shares of the company’s stock after acquiring an additional 27,812 shares during the period. Martingale Asset Management L P’s holdings in Scholastic were worth $1,585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Natixis Advisors LLC grew its position in Scholastic by 3.1% during the third quarter. Natixis Advisors LLC now owns 16,403 shares of the company’s stock worth $525,000 after buying an additional 489 shares in the last quarter. Inspire Investing LLC grew its position in Scholastic by 6.4% during the second quarter. Inspire Investing LLC now owns 11,222 shares of the company’s stock worth $398,000 after buying an additional 675 shares in the last quarter. Creative Planning grew its position in Scholastic by 4.4% during the third quarter. Creative Planning now owns 16,135 shares of the company’s stock worth $516,000 after buying an additional 679 shares in the last quarter. FMR LLC grew its position 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 buying an additional 869 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Scholastic during the second quarter worth about $35,000. 82.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Scholastic from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th.

Scholastic Price Performance

SCHL opened at $26.38 on Monday. The stock has a 50-day moving average price of $26.56 and a 200-day moving average price of $30.95. 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. The stock has a market capitalization of $742.33 million, a P/E ratio of 47.11 and a beta of 1.06.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.48) by $0.35. Scholastic had a return on equity of 4.32% and a net margin of 1.49%. The firm had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $233.49 million. During the same period in the prior year, the business earned ($2.20) EPS. Equities analysts predict that Scholastic Co. will post 1.41 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.03%. The ex-dividend date is Thursday, October 31st. Scholastic’s dividend payout ratio is presently 142.86%.

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.