Scholastic (NASDAQ:SCHL) Shares Up 5.4% – Time to Buy?

Scholastic Co. (NASDAQ:SCHL) shares rose 5.4% during trading on Tuesday . The stock traded as high as $21.15 and last traded at $21.11. Approximately 122,120 shares changed hands during trading, a decline of 44% from the average daily volume of 219,118 shares. The stock had previously closed at $20.03.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Scholastic from a “buy” rating to a “hold” rating in a report on Saturday, October 5th.

Scholastic Trading Up 8.1 %

The business’s 50 day simple moving average is $25.47 and its 200 day simple moving average is $29.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.14 and a quick ratio of 0.64. The company has a market capitalization of $609.45 million, a price-to-earnings ratio of 38.68 and a beta of 1.07.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, December 19th. The company reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.48). Scholastic had a net margin of 1.49% and a return on equity of 4.32%. Research analysts anticipate that Scholastic Co. will post 1.41 EPS for the current year.

Scholastic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Friday, January 31st. Scholastic’s dividend payout ratio is presently -444.44%.

Hedge Funds Weigh In On Scholastic

Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of Scholastic in the second quarter valued at about $1,936,000. Acadian Asset Management LLC purchased a new stake in Scholastic in the 2nd quarter valued at approximately $1,295,000. Charles Schwab Investment Management Inc. boosted its holdings in Scholastic by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,179 shares of the company’s stock valued at $16,075,000 after purchasing an additional 41,864 shares in the last quarter. Martingale Asset Management L P increased its position in Scholastic by 128.1% during the 3rd quarter. Martingale Asset Management L P now owns 49,529 shares of the company’s stock worth $1,585,000 after purchasing an additional 27,812 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of Scholastic by 127.8% during the 3rd quarter. Intech Investment Management LLC now owns 33,747 shares of the company’s stock worth $1,080,000 after buying an additional 18,933 shares in the last quarter. 82.57% of the stock is owned by institutional investors and hedge funds.

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 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.