Scholastic (NASDAQ:SCHL) Hits New 12-Month Low at $26.72

Scholastic Co. (NASDAQ:SCHL - Get Free Report) shares hit a new 52-week low on Thursday . The stock traded as low as $26.72 and last traded at $26.79, with a volume of 20211 shares traded. The stock had previously closed at $27.84.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Scholastic from a "hold" rating to a "buy" rating in a report on Friday, September 27th.

Scholastic Trading Down 4.0 %

The stock has a market capitalization of $754.86 million, a P/E ratio of 18.27 and a beta of 1.03. The company has a 50-day moving average price of $30.85 and a 200 day moving average price of $34.05.

Scholastic (NASDAQ:SCHL - Get Free Report) last released its quarterly earnings results on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, beating the consensus estimate of ($2.48) by $0.35. Scholastic had a net margin of 1.49% and a return on equity of 4.25%. The business had revenue of $237.20 million during the quarter, compared to analyst estimates of $233.49 million. During the same period in the prior year, the firm posted ($2.20) earnings per share. As a group, research analysts expect that Scholastic Co. will post 1.23 earnings per share for the current year.

Scholastic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, October 31st. Scholastic's payout ratio is presently 55.17%.

Insider Activity

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

Institutional Investors Weigh In On Scholastic

A number of large investors have recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in Scholastic during the 2nd quarter worth about $35,000. Innealta Capital LLC purchased a new position in Scholastic during the second quarter valued at approximately $64,000. EntryPoint Capital LLC acquired a new position in Scholastic in the first quarter valued at approximately $129,000. Quent Capital LLC purchased a new stake in Scholastic in the 1st quarter worth approximately $215,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Scholastic by 13.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company's stock worth $218,000 after purchasing an additional 697 shares in the last quarter. Hedge funds and other institutional investors own 82.57% of the company's stock.

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.

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