Scholastic Co. (NASDAQ:SCHL) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P lifted its position in shares of Scholastic Co. (NASDAQ:SCHL - Free Report) by 128.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,529 shares of the company's stock after acquiring an additional 27,812 shares during the quarter. Martingale Asset Management L P owned 0.18% of Scholastic worth $1,585,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. nVerses Capital LLC purchased a new stake in shares of Scholastic during the 2nd quarter worth about $35,000. Meeder Asset Management Inc. acquired a new position in shares of Scholastic during the 3rd quarter worth about $46,000. Innealta Capital LLC acquired a new position in shares of Scholastic during the 2nd quarter worth about $64,000. FMR LLC raised its position in shares of Scholastic by 58.8% during the 3rd quarter. FMR LLC now owns 2,346 shares of the company's stock worth $75,000 after purchasing an additional 869 shares during the last quarter. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Scholastic during the 2nd quarter worth about $279,000. 82.57% of the stock is owned by hedge funds and other institutional investors.

Scholastic Price Performance

SCHL stock traded up $0.39 during mid-day trading on Monday, reaching $26.77. The company's stock had a trading volume of 261,185 shares, compared to its average volume of 209,796. The stock has a market cap of $753.31 million, a PE ratio of 46.98 and a beta of 1.06. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 0.24. Scholastic Co. has a fifty-two week low of $23.69 and a fifty-two week high of $41.79. The company's 50 day moving average is $26.56 and its two-hundred day moving average is $30.91.

Scholastic (NASDAQ:SCHL - Get Free Report) last released its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, beating analysts' consensus estimates of ($2.48) by $0.35. Scholastic had a net margin of 1.49% and a return on equity of 4.32%. The company had revenue of $237.20 million during the quarter, compared to the consensus estimate of $233.49 million. During the same quarter in the prior year, the firm earned ($2.20) EPS. Equities research analysts expect that Scholastic Co. will post 1.41 EPS for the current year.

Scholastic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.99%. Scholastic's payout ratio is currently 142.86%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded 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.