The Manufacturers Life Insurance Company grew its holdings in shares of Scholastic Corporation (NASDAQ:SCHL) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,977 shares of the company’s stock after purchasing an additional 788 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Scholastic Corporation worth $958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can lifted its holdings in shares of Scholastic Corporation by 0.9% during the 2nd quarter. Bank of Montreal Can now owns 6,628 shares of the company’s stock valued at $289,000 after purchasing an additional 57 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Scholastic Corporation by 0.3% during the 2nd quarter. Wells Fargo & Company MN now owns 19,450 shares of the company’s stock valued at $848,000 after purchasing an additional 66 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Scholastic Corporation by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock valued at $484,000 after purchasing an additional 100 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Scholastic Corporation by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 14,162 shares of the company’s stock valued at $617,000 after purchasing an additional 100 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Scholastic Corporation by 0.7% during the 2nd quarter. US Bancorp DE now owns 19,251 shares of the company’s stock valued at $840,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Shares of Scholastic Corporation (NASDAQ SCHL) opened at $37.29 on Tuesday. Scholastic Corporation has a twelve month low of $33.51 and a twelve month high of $49.38. The company has a market capitalization of $1,295.52, a price-to-earnings ratio of 29.13 and a beta of 0.76.

Scholastic Corporation (NASDAQ:SCHL) last released its earnings results on Thursday, September 21st. The company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.34) by ($0.33). Scholastic Corporation had a net margin of 1.71% and a return on equity of 3.57%. The firm had revenue of $189.20 million during the quarter, compared to analyst estimates of $208.00 million. During the same period in the previous year, the company earned ($1.15) earnings per share. Scholastic Corporation’s revenue was down 33.1% on a year-over-year basis. analysts expect that Scholastic Corporation will post 1.19 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, October 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, October 30th. Scholastic Corporation’s payout ratio is 77.92%.

Several analysts have recently commented on SCHL shares. BidaskClub lowered Scholastic Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Stifel Nicolaus reiterated a “hold” rating on shares of Scholastic Corporation in a report on Thursday, September 21st. Finally, Zacks Investment Research upgraded Scholastic Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th.

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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.

Institutional Ownership by Quarter for Scholastic Corporation (NASDAQ:SCHL)

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