Meeder Asset Management Inc. grew its holdings in shares of Scholastic Corp (NASDAQ:SCHL) by 216.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,277 shares of the company’s stock after acquiring an additional 1,558 shares during the period. Meeder Asset Management Inc.’s holdings in Scholastic were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. State Board of Administration of Florida Retirement System grew its position in shares of Scholastic by 12.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 19,267 shares of the company’s stock valued at $900,000 after acquiring an additional 2,139 shares during the period. Wells Fargo & Company MN grew its position in shares of Scholastic by 6.8% during the 3rd quarter. Wells Fargo & Company MN now owns 41,384 shares of the company’s stock valued at $1,932,000 after acquiring an additional 2,633 shares during the period. Granite Investment Partners LLC grew its position in shares of Scholastic by 1.1% during the 2nd quarter. Granite Investment Partners LLC now owns 317,838 shares of the company’s stock valued at $14,083,000 after acquiring an additional 3,421 shares during the period. SG Americas Securities LLC grew its position in shares of Scholastic by 138.6% during the 2nd quarter. SG Americas Securities LLC now owns 6,252 shares of the company’s stock valued at $277,000 after acquiring an additional 3,632 shares during the period. Finally, Rehmann Capital Advisory Group grew its position in shares of Scholastic by 16,250.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 3,924 shares of the company’s stock valued at $174,000 after acquiring an additional 3,900 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

SCHL opened at $46.75 on Friday. Scholastic Corp has a fifty-two week low of $33.85 and a fifty-two week high of $47.94. The firm has a market cap of $1.61 billion, a P/E ratio of 32.69 and a beta of 0.74.

Scholastic (NASDAQ:SCHL) last released its earnings results on Thursday, September 27th. The company reported ($1.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.93) by $0.19. Scholastic had a negative net margin of 0.16% and a positive return on equity of 3.82%. The company had revenue of $218.40 million for the quarter, compared to analysts’ expectations of $198.70 million. During the same quarter in the previous year, the company earned $1.31 EPS. Scholastic’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, research analysts expect that Scholastic Corp will post 1.5 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Tuesday, October 30th. Scholastic’s dividend payout ratio (DPR) is 41.96%.

In related news, EVP Judith Newman sold 18,517 shares of Scholastic stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $41.54, for a total transaction of $769,196.18. Following the transaction, the executive vice president now owns 20,308 shares in the company, valued at approximately $843,594.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Davies sold 6,634 shares of Scholastic stock in a transaction on Monday, October 1st. The shares were sold at an average price of $46.13, for a total transaction of $306,026.42. Following the transaction, the director now owns 1,253 shares in the company, valued at approximately $57,800.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,811 shares of company stock worth $1,865,017. 21.79% of the stock is owned by corporate insiders.

A number of brokerages have recently issued reports on SCHL. BidaskClub downgraded shares of Scholastic from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. ValuEngine downgraded shares of Scholastic from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Zacks Investment Research downgraded shares of Scholastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 25th. TheStreet cut shares of Scholastic from a “b-” rating to a “c” rating in a research note on Monday, September 17th. Finally, Stifel Nicolaus lifted their target price on shares of Scholastic from $43.00 to $44.00 and gave the company a “hold” rating in a research note on Friday, September 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Scholastic currently has a consensus rating of “Hold” and a consensus price target of $49.00.

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Scholastic Profile

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.

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Institutional Ownership by Quarter for Scholastic (NASDAQ:SCHL)

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