Mirae Asset Global Investments Co. Ltd. Lowers Stock Holdings in Scholastic Co. (NASDAQ:SCHL)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Scholastic Co. (NASDAQ:SCHL) by 8.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,744 shares of the company’s stock after selling 1,341 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Scholastic were worth $518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Jacobs Levy Equity Management Inc. bought a new position in shares of Scholastic in the third quarter worth about $11,263,000. Azarias Capital Management L.P. grew its holdings in Scholastic by 47.9% during the 3rd quarter. Azarias Capital Management L.P. now owns 184,029 shares of the company’s stock valued at $7,019,000 after buying an additional 59,630 shares in the last quarter. Kennedy Capital Management LLC boosted its position in shares of Scholastic by 103.3% during the third quarter. Kennedy Capital Management LLC now owns 50,000 shares of the company’s stock worth $1,907,000 after acquiring an additional 25,403 shares during the last quarter. Capula Management Ltd bought a new position in shares of Scholastic during the third quarter worth $959,000. Finally, Public Employees Retirement System of Ohio grew its stake in Scholastic by 3,084.7% during the third quarter. Public Employees Retirement System of Ohio now owns 24,331 shares of the company’s stock valued at $928,000 after acquiring an additional 23,567 shares in the last quarter. 82.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Scholastic from a “hold” rating to a “buy” rating in a report on Friday, March 22nd.

Insider Buying and Selling

In related news, EVP Iole Lucchese sold 400,000 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $33.51, for a total transaction of $13,404,000.00. Following the sale, the executive vice president now owns 579,247 shares in the company, valued at approximately $19,410,566.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 18.62% of the stock is currently owned by company insiders.

Scholastic Price Performance

Shares of SCHL opened at $36.08 on Friday. The business’s 50 day simple moving average is $37.55 and its 200-day simple moving average is $38.03. Scholastic Co. has a 1 year low of $32.50 and a 1 year high of $45.98. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 24.88 and a beta of 1.05.

Scholastic (NASDAQ:SCHL) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.80). Scholastic had a net margin of 3.16% and a return on equity of 5.57%. The company had revenue of $323.70 million for the quarter, compared to the consensus estimate of $329.21 million. During the same quarter in the prior year, the firm earned ($0.57) earnings per share. On average, sell-side analysts expect that Scholastic Co. will post 2.01 earnings per share for the current year.

Scholastic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, April 30th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Monday, April 29th. Scholastic’s payout ratio is 55.17%.

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 books, eBooks, media, and interactive products through its school book clubs and fair channels, and trade channel.