Scholastic Corporation Plans Quarterly Dividend of $0.25 (NASDAQ:SCHL)

Scholastic Corporation (NASDAQ:SCHL) declared a quarterly dividend on Wednesday, September 16th. Stockholders of record on Friday, October 30th will be paid a dividend of 0.25 per share on Tuesday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, October 30th.

Scholastic has increased its dividend payment by an average of 0.1%per year over the last three years.

Scholastic Price Performance

NASDAQ SCHL opened at $35.01 on Thursday. Scholastic has a 12-month low of $22.68 and a 12-month high of $48.07. The firm’s fifty day simple moving average is $41.05 and its two-hundred day simple moving average is $40.44. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $660.29 million, a P/E ratio of 14.96, a P/E/G ratio of 1.67 and a beta of 1.01.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $2.19 EPS for the quarter, topping the consensus estimate of $2.16 by $0.03. The business had revenue of $476.10 million during the quarter, compared to the consensus estimate of $517.06 million. Scholastic had a net margin of 3.58% and a return on equity of 5.29%. During the same period in the previous year, the firm posted $0.59 earnings per share. Analysts forecast that Scholastic will post 1.61 EPS for the current fiscal year.

Insider Transactions at Scholastic

In related news, EVP Iole Lucchese sold 289,624 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $39.76, for a total value of $11,515,450.24. Following the sale, the executive vice president directly owned 289,623 shares of the company’s stock, valued at approximately $11,515,410.48. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kaya Henderson sold 3,250 shares of Scholastic stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $40.25, for a total transaction of $130,812.50. Following the transaction, the director owned 7,113 shares in the company, valued at $286,298.25. The trade was a 31.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 294,986 shares of company stock worth $11,731,334 over the last quarter. 12.77% of the stock is currently owned by insiders.

Institutional Trading of Scholastic

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Scholastic in the 2nd quarter worth approximately $120,724,000. Brandes Investment Partners LP grew its stake in Scholastic by 6.6% during the 4th quarter. Brandes Investment Partners LP now owns 279,686 shares of the company’s stock worth $8,287,000 after buying an additional 17,407 shares during the last quarter. Bank of New York Mellon Corp increased its position in Scholastic by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 266,082 shares of the company’s stock worth $10,393,000 after buying an additional 10,636 shares during the period. Empowered Funds LLC acquired a new stake in Scholastic in the second quarter worth $11,662,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in Scholastic in the fourth quarter valued at $7,070,000. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Scholastic Company Profile

Scholastic Corporation is a global children’s publishing, education and media company. Founded in 1920 by M. R. Robinson, the company develops and distributes books, classroom materials, digital learning resources and educational media for children, families, teachers and schools.

Its publishing portfolio includes original and licensed children’s books, series and educational titles, while its education business provides classroom magazines, supplemental curriculum materials, professional learning resources and digital platforms.