Insider Buying: Scholastic Co. (NASDAQ:SCHL) EVP Buys $50,430.46 in Stock

Scholastic Co. (NASDAQ:SCHL) EVP Iole Lucchese purchased 1,654 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average cost of $30.49 per share, for a total transaction of $50,430.46. Following 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Scholastic Trading Up 2.1 %

Shares of NASDAQ SCHL opened at $31.58 on Friday. The firm’s 50-day moving average price is $35.03 and its 200-day moving average price is $36.67. Scholastic Co. has a 1-year low of $28.64 and a 1-year high of $45.98. The firm has a market capitalization of $891.82 million, a P/E ratio of 21.78 and a beta of 1.02.

Scholastic Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.53%. Scholastic’s dividend payout ratio is currently 55.17%.

Hedge Funds Weigh In On Scholastic

Institutional investors have recently made changes to their positions in the stock. Cornercap Investment Counsel Inc. acquired a new position in shares of Scholastic during the fourth quarter valued at about $974,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Scholastic in the 4th quarter worth about $1,823,000. Oak Family Advisors LLC raised its holdings in shares of Scholastic by 15.2% in the 4th quarter. Oak Family Advisors LLC now owns 27,728 shares of the company’s stock worth $1,045,000 after acquiring an additional 3,656 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Scholastic by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 430,679 shares of the company’s stock worth $16,237,000 after acquiring an additional 20,961 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Scholastic by 55.6% in the 4th quarter. Allianz Asset Management GmbH now owns 64,154 shares of the company’s stock worth $2,419,000 after acquiring an additional 22,933 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Scholastic from a “buy” rating to a “hold” rating in a research report on Friday, July 19th.

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 books, eBooks, media, and interactive products through its school book clubs and fair channels, and trade channel.