Rhumbline Advisers Has $2.29 Million Stock Position in Scholastic Corporation $SCHL

Rhumbline Advisers increased its holdings in shares of Scholastic Corporation (NASDAQ:SCHL) by 23.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,750 shares of the company’s stock after buying an additional 15,644 shares during the quarter. Rhumbline Advisers owned 0.33% of Scholastic worth $2,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCHL. Tower Research Capital LLC TRC grew its stake in Scholastic by 458.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,159 shares of the company’s stock valued at $66,000 after acquiring an additional 2,593 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Scholastic by 63.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,540 shares of the company’s stock valued at $70,000 after purchasing an additional 983 shares in the last quarter. State of Wyoming acquired a new position in shares of Scholastic in the 3rd quarter valued at approximately $137,000. New York State Common Retirement Fund grew its position in shares of Scholastic by 86.3% in the 3rd quarter. New York State Common Retirement Fund now owns 8,417 shares of the company’s stock valued at $230,000 after purchasing an additional 3,900 shares during the period. Finally, KLP Kapitalforvaltning AS increased its stake in Scholastic by 88.9% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 8,500 shares of the company’s stock worth $233,000 after purchasing an additional 4,000 shares in the last quarter. 82.57% of the stock is currently owned by institutional investors.

Scholastic Trading Up 1.5%

NASDAQ SCHL opened at $34.77 on Friday. Scholastic Corporation has a 52 week low of $15.77 and a 52 week high of $35.98. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 1.67. The stock’s 50 day moving average price is $32.98 and its two-hundred day moving average price is $29.50. The stock has a market capitalization of $884.55 million, a price-to-earnings ratio of -173.85 and a beta of 1.19.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, December 18th. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.10. The company had revenue of $551.10 million for the quarter, compared to the consensus estimate of $556.72 million. Scholastic had a negative net margin of 0.21% and a positive return on equity of 2.66%. During the same period last year, the company earned $1.82 earnings per share. As a group, analysts anticipate that Scholastic Corporation will post 0.84 earnings per share for the current fiscal year.

Scholastic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, January 30th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $0.80 annualized dividend and a yield of 2.3%. Scholastic’s payout ratio is -400.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Zacks Research raised shares of Scholastic from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Weiss Ratings raised shares of Scholastic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $37.00.

Scholastic Company Profile

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.