Piermont Capital Management Inc. Sells 12,618 Shares of Scholastic Corporation (SCHL)
Piermont Capital Management Inc. lessened its stake in shares of Scholastic Corporation (NASDAQ:SCHL) by 20.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,597 shares of the company’s stock after selling 12,618 shares during the quarter. Piermont Capital Management Inc. owned 0.14% of Scholastic Corporation worth $2,118,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. OppenheimerFunds Inc. lifted its stake in shares of Scholastic Corporation by 29.3% during the first quarter. OppenheimerFunds Inc. now owns 29,859 shares of the company’s stock worth $1,271,000 after purchasing an additional 6,761 shares in the last quarter. Texas Permanent School Fund lifted its stake in shares of Scholastic Corporation by 1.9% during the second quarter. Texas Permanent School Fund now owns 19,858 shares of the company’s stock worth $866,000 after purchasing an additional 365 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Scholastic Corporation by 36.6% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 43,032 shares of the company’s stock worth $1,832,000 after purchasing an additional 11,530 shares in the last quarter. Clinton Group Inc. lifted its stake in shares of Scholastic Corporation by 0.5% during the first quarter. Clinton Group Inc. now owns 17,139 shares of the company’s stock worth $730,000 after purchasing an additional 78 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in shares of Scholastic Corporation by 28.4% during the second quarter. Neuberger Berman Group LLC now owns 381,815 shares of the company’s stock worth $16,643,000 after purchasing an additional 84,451 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.
A number of brokerages have commented on SCHL. Zacks Investment Research upgraded Scholastic Corporation from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Friday, July 21st. BidaskClub lowered Scholastic Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $44.00 target price on shares of Scholastic Corporation in a research report on Wednesday, August 16th.
Shares of Scholastic Corporation (NASDAQ:SCHL) traded up 1.23% during mid-day trading on Friday, hitting $36.23. The stock had a trading volume of 316,410 shares. The company has a market cap of $1.27 billion, a PE ratio of 45.63 and a beta of 0.75. The firm’s 50 day moving average price is $39.37 and its 200-day moving average price is $42.28. Scholastic Corporation has a one year low of $35.20 and a one year high of $49.38.
Scholastic Corporation (NASDAQ:SCHL) last released its quarterly earnings results on Thursday, September 21st. The company reported ($1.67) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.34) by ($0.33). Scholastic Corporation had a net margin of 1.71% and a return on equity of 3.54%. The firm had revenue of $189.20 million for the quarter, compared to the consensus estimate of $208.00 million. During the same quarter last year, the company earned ($1.15) earnings per share. The firm’s revenue was down 33.1% on a year-over-year basis. On average, equities research analysts anticipate that Scholastic Corporation will post $1.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Monday, October 30th. Scholastic Corporation’s dividend payout ratio (DPR) is 77.92%.
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Scholastic Corporation Company Profile
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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