Rhumbline Advisers Has $2.92 Million Stock Holdings in Scholastic Co. (NASDAQ:SCHL)

Rhumbline Advisers trimmed its position in Scholastic Co. (NASDAQ:SCHL) by 5.4% during the second quarter, Holdings Channel reports. The institutional investor owned 82,361 shares of the company’s stock after selling 4,707 shares during the quarter. Rhumbline Advisers’ holdings in Scholastic were worth $2,921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Scholastic by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 430,679 shares of the company’s stock worth $16,237,000 after purchasing an additional 20,961 shares in the last quarter. Bragg Financial Advisors Inc lifted its holdings in Scholastic by 0.7% during the fourth quarter. Bragg Financial Advisors Inc now owns 372,999 shares of the company’s stock worth $14,062,000 after acquiring an additional 2,468 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Scholastic by 16.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 306,017 shares of the company’s stock valued at $11,540,000 after acquiring an additional 43,199 shares during the period. Azarias Capital Management L.P. increased its holdings in shares of Scholastic by 32.7% in the second quarter. Azarias Capital Management L.P. now owns 264,565 shares of the company’s stock worth $9,384,000 after acquiring an additional 65,120 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Scholastic by 8.2% in the first quarter. Empowered Funds LLC now owns 132,010 shares of the company’s stock worth $4,978,000 after acquiring an additional 9,975 shares in the last quarter. 82.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Scholastic from a “hold” rating to a “buy” rating in a report on Tuesday, August 27th.

Scholastic Trading Up 0.0 %

SCHL opened at $31.61 on Thursday. The stock has a market capitalization of $904.05 million, a P/E ratio of 21.80 and a beta of 1.03. Scholastic Co. has a 12 month low of $28.47 and a 12 month high of $41.79. The firm’s fifty day simple moving average is $31.68 and its 200 day simple moving average is $34.59.

Scholastic (NASDAQ:SCHL) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.93). The firm had revenue of $474.90 million during the quarter, compared to analyst estimates of $552.50 million. Scholastic had a net margin of 0.76% and a return on equity of 3.34%. On average, equities research analysts predict that Scholastic Co. will post 1.52 EPS for the current fiscal year.

Scholastic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Friday, August 30th. Scholastic’s dividend payout ratio (DPR) is currently 55.17%.

Insider Transactions at Scholastic

In other Scholastic news, CEO Warwick Peter acquired 1,674 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average price of $30.46 per share, with a total value of $50,990.04. Following the completion of the transaction, the chief executive officer now directly owns 104,349 shares in the company, valued at approximately $3,178,470.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Warwick Peter acquired 1,674 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average price of $30.46 per share, for a total transaction of $50,990.04. Following the acquisition, the chief executive officer now directly owns 104,349 shares of the company’s stock, valued at $3,178,470.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Iole Lucchese bought 1,654 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average price of $30.49 per share, for a total transaction of $50,430.46. Following the acquisition, the executive vice president now directly owns 74,264 shares of the company’s stock, valued at approximately $2,264,309.36. The disclosure for this purchase can be found here. Company insiders own 18.62% of the company’s stock.

Scholastic 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.