Scholastic (NASDAQ:SCHL) Trading Up 6.6% - Here's What Happened

Shares of Scholastic Co. (NASDAQ:SCHL - Get Free Report) shot up 6.6% during trading on Friday . The company traded as high as $21.37 and last traded at $21.52. 325,096 shares changed hands during trading, an increase of 36% from the average session volume of 239,781 shares. The stock had previously closed at $20.19.

Scholastic Stock Up 6.1 %

The company has a quick ratio of 0.81, a current ratio of 1.24 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $602.20 million, a PE ratio of -119.05 and a beta of 1.10. The business's 50 day simple moving average is $20.24 and its 200 day simple moving average is $24.78.

Scholastic (NASDAQ:SCHL - Get Free Report) last issued its earnings results on Thursday, December 19th. The company reported $1.82 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.48). Scholastic had a negative net margin of 0.27% and a positive return on equity of 1.91%. As a group, analysts forecast that Scholastic Co. will post 0.84 EPS for the current year.

Scholastic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, January 31st will be issued a $0.20 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.73%. Scholastic's dividend payout ratio is -444.44%.

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Hedge Funds Weigh In On Scholastic

A number of large investors have recently made changes to their positions in SCHL. Lazard Asset Management LLC acquired a new position in shares of Scholastic in the 4th quarter valued at about $33,000. Meeder Asset Management Inc. acquired a new position in shares of Scholastic in the 3rd quarter valued at about $46,000. KBC Group NV increased its holdings in Scholastic by 125.4% in the fourth quarter. KBC Group NV now owns 2,443 shares of the company's stock worth $52,000 after buying an additional 1,359 shares during the last quarter. FMR LLC increased its holdings in Scholastic by 58.8% in the third quarter. FMR LLC now owns 2,346 shares of the company's stock worth $75,000 after buying an additional 869 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Scholastic in the fourth quarter worth approximately $96,000. Institutional investors and hedge funds 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.