Scholastic Corporation (SCHL) To Go Ex-Dividend on October 30th

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

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

Scholastic Price Performance

SCHL stock opened at $34.96 on Friday. The company has a market cap of $659.35 million, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. 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 stock has a 50-day moving average price of $40.84 and a two-hundred day moving average price of $40.45. Scholastic has a 12-month low of $22.68 and a 12-month high of $48.07.

Scholastic (NASDAQ:SCHL) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.03. The company had revenue of $476.10 million for the quarter, compared to the consensus estimate of $517.06 million. Scholastic had a return on equity of 5.29% and a net margin of 3.58%.During the same period last year, the business posted $0.59 EPS. As a group, research analysts predict that Scholastic will post 1.61 EPS for the current year.

Insiders Place Their Bets

In other news, Director Andres A. Alonso sold 2,112 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $40.28, for a total value of $85,071.36. Following the completion of the sale, the director owned 21,189 shares of the company’s stock, valued at $853,492.92. This represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Iole Lucchese sold 289,624 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 294,986 shares of company stock worth $11,731,334 over the last quarter. 12.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholastic

A number of large investors have recently added to or reduced their stakes in SCHL. Meeder Asset Management Inc. acquired a new position in Scholastic in the 2nd quarter worth $43,000. Integrated Wealth Concepts LLC purchased a new position in Scholastic in the second quarter valued at about $56,000. State of Wyoming acquired a new stake in Scholastic during the 2nd quarter valued at approximately $115,000. iSAM Funds UK Ltd acquired a new stake in Scholastic during the 2nd quarter valued at approximately $235,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Scholastic during the 2nd quarter worth approximately $247,000. 82.57% of the stock is 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.