Scholastic Co. (SCHL) to Issue Quarterly Dividend of $0.20 on December 15th

Scholastic Co. (NASDAQ:SCHLGet Rating) announced a quarterly dividend on Wednesday, September 21st, Wall Street Journal reports. Shareholders of record on Monday, October 31st will be given a dividend of 0.20 per share on Thursday, December 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, October 28th.

Scholastic Trading Down 3.4 %

SCHL stock opened at $40.34 on Friday. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 18.09 and a beta of 0.88. Scholastic has a 12 month low of $32.68 and a 12 month high of $48.28. The firm has a 50-day moving average of $44.42 and a two-hundred day moving average of $39.85.

Insider Buying and Selling at Scholastic

In other Scholastic news, insider Sasha Quinton sold 2,599 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $47.21, for a total value of $122,698.79. Following the completion of the transaction, the insider now owns 31,307 shares of the company’s stock, valued at approximately $1,478,003.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 16.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can boosted its holdings in Scholastic by 2.6% during the first quarter. Bank of Montreal Can now owns 14,576 shares of the company’s stock worth $610,000 after buying an additional 363 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of Scholastic by 5.7% in the 2nd quarter. Natixis Advisors L.P. now owns 16,619 shares of the company’s stock worth $598,000 after buying an additional 895 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Scholastic by 57.5% in the 1st quarter. MetLife Investment Management LLC now owns 14,513 shares of the company’s stock worth $585,000 after acquiring an additional 5,300 shares during the period. Millennium Management LLC increased its holdings in shares of Scholastic by 91.4% in the 2nd quarter. Millennium Management LLC now owns 15,374 shares of the company’s stock worth $553,000 after acquiring an additional 7,343 shares during the period. Finally, Creative Planning acquired a new stake in shares of Scholastic in the 2nd quarter worth about $489,000. 81.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SCHL. StockNews.com upgraded shares of Scholastic from a “buy” rating to a “strong-buy” rating in a report on Monday, July 25th. TheStreet upgraded shares of Scholastic from a “c” rating to a “b” rating in a report on Thursday, July 21st.

Scholastic Company Profile

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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 publishes and distributes children's books, e-books, media, and interactive products through its school book club and fair channels, as well as trade channels.

Further Reading

Dividend History for Scholastic (NASDAQ:SCHL)

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