Scholastic (NASDAQ:SCHL) Sees Strong Trading Volume – Still a Buy?

Scholastic Co. (NASDAQ:SCHL) shares saw strong trading volume on Monday . 270,034 shares changed hands during mid-day trading, an increase of 14% from the previous session’s volume of 237,701 shares.The stock last traded at $20.05 and had previously closed at $21.22.

Scholastic Stock Down 9.9 %

The firm has a market capitalization of $537.23 million, a PE ratio of -105.98 and a beta of 1.10. The business’s fifty day moving average price is $20.09 and its 200 day moving average price is $23.96. The company has a quick ratio of 0.81, a current ratio of 1.24 and a debt-to-equity ratio of 0.25.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.73. Scholastic had a positive return on equity of 1.91% and a negative net margin of 0.27%. The company had revenue of $335.40 million during the quarter, compared to analysts’ expectations of $347.68 million. On average, equities research analysts forecast that Scholastic Co. will post 0.84 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, April 30th will be given a $0.20 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.18%. Scholastic’s dividend payout ratio (DPR) is 133.33%.

Hedge Funds Weigh In On Scholastic

A number of large investors have recently bought and sold shares of the company. Natixis Advisors LLC increased its stake in shares of Scholastic by 3.1% during the third quarter. Natixis Advisors LLC now owns 16,403 shares of the company’s stock worth $525,000 after acquiring an additional 489 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Scholastic by 4.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,221 shares of the company’s stock valued at $282,000 after purchasing an additional 530 shares in the last quarter. Sterling Capital Management LLC increased its position in Scholastic by 7.5% during the 4th quarter. Sterling Capital Management LLC now owns 9,444 shares of the company’s stock worth $201,000 after purchasing an additional 662 shares during the period. Rhumbline Advisers raised its stake in shares of Scholastic by 1.1% during the 4th quarter. Rhumbline Advisers now owns 81,637 shares of the company’s stock worth $1,741,000 after buying an additional 860 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Scholastic by 58.8% in the 3rd quarter. FMR LLC now owns 2,346 shares of the company’s stock valued at $75,000 after buying an additional 869 shares during the period. Hedge funds and other institutional investors own 82.57% of the company’s stock.

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.