Meeder Asset Management Inc. Takes $46,000 Position in Scholastic Co. (NASDAQ:SCHL)

Meeder Asset Management Inc. acquired a new stake in shares of Scholastic Co. (NASDAQ:SCHL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,429 shares of the company’s stock, valued at approximately $46,000.

A number of other hedge funds have also recently made changes to their positions in SCHL. Pacer Advisors Inc. grew its holdings in shares of Scholastic by 18.1% during the second quarter. Pacer Advisors Inc. now owns 1,120,491 shares of the company’s stock valued at $39,744,000 after buying an additional 171,775 shares during the last quarter. Azarias Capital Management L.P. lifted its position in shares of 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 purchasing an additional 65,120 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Scholastic by 744.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 65,625 shares of the company’s stock worth $2,101,000 after acquiring an additional 57,852 shares during the period. American Century Companies Inc. raised its position in Scholastic by 13.2% in the second quarter. American Century Companies Inc. now owns 488,259 shares of the company’s stock worth $17,319,000 after acquiring an additional 56,835 shares during the period. Finally, Millennium Management LLC raised its position in Scholastic by 45.0% in the second quarter. Millennium Management LLC now owns 182,630 shares of the company’s stock worth $6,478,000 after acquiring an additional 56,647 shares during the period. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Scholastic Trading Up 2.2 %

NASDAQ:SCHL opened at $24.80 on Thursday. The company has a fifty day moving average of $27.28 and a 200 day moving average of $31.42. Scholastic Co. has a 52 week low of $23.69 and a 52 week high of $41.79. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $697.87 million, a P/E ratio of 44.29 and a beta of 1.06.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, topping the consensus estimate of ($2.48) by $0.35. The business had revenue of $237.20 million during the quarter, compared to analyst estimates of $233.49 million. Scholastic had a net margin of 1.49% and a return on equity of 4.32%. During the same period in the prior year, the business earned ($2.20) EPS. On average, research analysts predict that Scholastic Co. will post 1.41 earnings per share for the current year.

Scholastic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, October 31st. Scholastic’s payout ratio is presently 142.86%.

Wall Street Analysts Forecast Growth

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

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.