Scholastic (NASDAQ:SCHL) Reaches New 52-Week Low at $31.31

Shares of Scholastic Co. (NASDAQ:SCHL) hit a new 52-week low on Friday . The stock traded as low as $31.31 and last traded at $31.82, with a volume of 55794 shares. The stock had previously closed at $36.56.

Wall Street Analyst Weigh In

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

Scholastic Stock Down 15.6 %

The company has a fifty day simple moving average of $35.71 and a 200 day simple moving average of $36.96. The firm has a market capitalization of $882.31 million, a P/E ratio of 21.39 and a beta of 1.02.

Scholastic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Friday, August 30th. Scholastic’s payout ratio is currently 55.17%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in Scholastic by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 430,679 shares of the company’s stock valued at $16,237,000 after acquiring an additional 20,961 shares during the last quarter. Bragg Financial Advisors Inc increased its position in Scholastic by 0.7% during the fourth quarter. Bragg Financial Advisors Inc now owns 372,999 shares of the company’s stock valued at $14,062,000 after acquiring an additional 2,468 shares during the last quarter. American Century Companies Inc. increased its position in Scholastic by 2.0% during the third quarter. American Century Companies Inc. now owns 349,352 shares of the company’s stock valued at $13,324,000 after acquiring an additional 6,893 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Scholastic by 16.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 306,017 shares of the company’s stock valued at $11,540,000 after acquiring an additional 43,199 shares during the last quarter. Finally, Azarias Capital Management L.P. increased its position in Scholastic by 8.4% during the fourth quarter. Azarias Capital Management L.P. now owns 199,445 shares of the company’s stock valued at $7,519,000 after acquiring an additional 15,416 shares during the last quarter. 82.57% of the stock is owned by institutional investors.

About Scholastic

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.