Scholastic Co. (NASDAQ:SCHL) Shares Bought by Azarias Capital Management L.P.

Azarias Capital Management L.P. lifted its holdings in shares of Scholastic Co. (NASDAQ:SCHL) by 32.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 264,565 shares of the company’s stock after buying an additional 65,120 shares during the period. Scholastic accounts for approximately 4.2% of Azarias Capital Management L.P.’s holdings, making the stock its 12th largest holding. Azarias Capital Management L.P.’s holdings in Scholastic were worth $9,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SCHL. Dynamic Technology Lab Private Ltd acquired a new stake in Scholastic in the 4th quarter worth about $1,823,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Scholastic by 16.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 306,017 shares of the company’s stock worth $11,540,000 after acquiring an additional 43,199 shares during the last quarter. LSV Asset Management purchased a new stake in shares of Scholastic during the fourth quarter worth approximately $1,090,000. National Bank of Canada FI acquired a new position in Scholastic in the 4th quarter valued at $1,013,000. Finally, Allianz Asset Management GmbH lifted its holdings in Scholastic by 55.6% in the 4th quarter. Allianz Asset Management GmbH now owns 64,154 shares of the company’s stock valued at $2,419,000 after purchasing an additional 22,933 shares in the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Scholastic from a “hold” rating to a “buy” rating in a report on Friday, August 16th.

Insider Transactions at Scholastic

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

Scholastic Price Performance

NASDAQ SCHL traded up $0.05 during trading hours on Monday, hitting $31.62. 121,981 shares of the company’s stock traded hands, compared to its average volume of 208,107. The firm’s 50-day moving average is $32.88 and its 200-day moving average is $35.48. Scholastic Co. has a 52-week low of $28.47 and a 52-week high of $44.73. The company has a market capitalization of $904.33 million, a PE ratio of 21.81 and a beta of 1.02.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.93). Scholastic had a net margin of 0.76% and a return on equity of 3.34%. The company had revenue of $474.90 million during the quarter, compared to analysts’ expectations of $552.50 million. Equities research analysts predict that Scholastic Co. will post 1.52 earnings per share for the current fiscal year.

Scholastic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, August 30th. Scholastic’s dividend payout ratio (DPR) is presently 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 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.