Intech Investment Management LLC Boosts Stock Position in Scholastic Co. (NASDAQ:SCHL)

Intech Investment Management LLC raised its holdings in Scholastic Co. (NASDAQ:SCHL) by 127.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,747 shares of the company’s stock after purchasing an additional 18,933 shares during the period. Intech Investment Management LLC owned about 0.12% of Scholastic worth $1,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SCHL. Quent Capital LLC acquired a new stake in Scholastic in the first quarter valued at $215,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Scholastic by 6.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 32,814 shares of the company’s stock worth $1,237,000 after purchasing an additional 2,083 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Scholastic by 17.2% in the first quarter. Public Employees Retirement System of Ohio now owns 23,538 shares of the company’s stock worth $888,000 after purchasing an additional 3,449 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Scholastic in the first quarter valued at about $340,000. Finally, Azarias Capital Management L.P. raised its stake in Scholastic by 32.7% during the second quarter. Azarias Capital Management L.P. now owns 264,565 shares of the company’s stock valued at $9,384,000 after buying an additional 65,120 shares in the last quarter. 82.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Scholastic from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th.

Scholastic Stock Up 2.0 %

Shares of NASDAQ:SCHL opened at $26.95 on Thursday. Scholastic Co. has a 1-year low of $23.69 and a 1-year high of $41.79. The company’s fifty day moving average is $26.85 and its two-hundred day moving average is $31.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.64 and a current ratio of 1.14. The stock has a market capitalization of $758.37 million, a price-to-earnings ratio of 47.57 and a beta of 1.06.

Scholastic (NASDAQ:SCHL) last issued its earnings results on Thursday, September 26th. The company reported ($2.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.48) by $0.35. The firm had revenue of $237.20 million for the quarter, compared to analysts’ expectations of $233.49 million. Scholastic had a net margin of 1.49% and a return on equity of 4.32%. During the same quarter last year, the company posted ($2.20) earnings per share. Equities analysts anticipate that Scholastic Co. will post 1.41 EPS for the current year.

Scholastic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, October 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.97%. The ex-dividend date is Thursday, October 31st. Scholastic’s dividend payout ratio is presently 142.86%.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children’s books worldwide. It operates in three segments: Children’s Book Publishing and Distribution, Education Solutions, and International. The Children’s Book Publishing and Distribution segment engages in publication and distribution of children’s print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.