Chartwell Investment Partners LLC Sells 18,425 Shares of Scholastic Corporation (SCHL)
Chartwell Investment Partners LLC reduced its position in shares of Scholastic Corporation (NASDAQ:SCHL) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 428,129 shares of the company’s stock after selling 18,425 shares during the period. Chartwell Investment Partners LLC’s holdings in Scholastic Corporation were worth $18,662,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in SCHL. Sei Investments Co. raised its stake in shares of Scholastic Corporation by 69.6% in the first quarter. Sei Investments Co. now owns 2,454 shares of the company’s stock worth $105,000 after buying an additional 1,007 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Scholastic Corporation during the first quarter worth about $110,000. State of Alaska Department of Revenue raised its stake in shares of Scholastic Corporation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 2,970 shares of the company’s stock worth $126,000 after buying an additional 70 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Scholastic Corporation by 11.5% in the second quarter. Bessemer Group Inc. now owns 4,495 shares of the company’s stock worth $196,000 after buying an additional 462 shares in the last quarter. Finally, 1st Global Advisors Inc. raised its stake in shares of Scholastic Corporation by 1.5% in the first quarter. 1st Global Advisors Inc. now owns 5,419 shares of the company’s stock worth $231,000 after buying an additional 80 shares in the last quarter. 79.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Scholastic Corporation (NASDAQ:SCHL) opened at 38.67 on Friday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 26.23 and a beta of 0.74. Scholastic Corporation has a 12 month low of $35.20 and a 12 month high of $49.38. The company has a 50-day moving average price of $41.69 and a 200-day moving average price of $43.43.
Scholastic Corporation (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, July 20th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.22. Scholastic Corporation had a return on equity of 5.10% and a net margin of 3.00%. The business had revenue of $499.60 million for the quarter, compared to the consensus estimate of $508 million. During the same period in the prior year, the business earned $1.22 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts forecast that Scholastic Corporation will post $1.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Tuesday, August 29th. Scholastic Corporation’s dividend payout ratio (DPR) is currently 41.96%.
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A number of equities research analysts recently issued reports on SCHL shares. Zacks Investment Research raised Scholastic Corporation from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Friday, July 21st. Stifel Nicolaus reissued a “hold” rating and issued a $44.00 target price on shares of Scholastic Corporation in a research report on Wednesday. Finally, BidaskClub raised Scholastic Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th.
In related news, EVP Judith Newman sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $45.04, for a total transaction of $225,200.00. Following the transaction, the executive vice president now directly owns 18,894 shares of the company’s stock, valued at approximately $850,985.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard Robinson sold 67,993 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $43.08, for a total value of $2,929,138.44. Following the transaction, the chief executive officer now directly owns 4,350,943 shares in the company, valued at $187,438,624.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,094 shares of company stock worth $3,159,010. 22.30% of the stock is owned by company insiders.
About Scholastic Corporation
Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.
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