Azarias Capital Management L.P. Purchases 65,120 Shares of Scholastic Co. (NASDAQ:SCHL)

Azarias Capital Management L.P. boosted its position in Scholastic Co. (NASDAQ:SCHL) by 32.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,565 shares of the company’s stock after buying an additional 65,120 shares during the quarter. Scholastic makes up about 4.2% of Azarias Capital Management L.P.’s holdings, making the stock its 12th largest position. Azarias Capital Management L.P. owned about 0.93% of Scholastic worth $9,384,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in Scholastic in the 4th quarter worth about $25,000. EntryPoint Capital LLC purchased a new stake in shares of Scholastic during the 1st quarter valued at approximately $129,000. Quest Partners LLC bought a new position in Scholastic in the 4th quarter worth approximately $172,000. Allspring Global Investments Holdings LLC grew its stake in Scholastic by 4,475.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,079 shares of the company’s stock valued at $191,000 after buying an additional 4,968 shares in the last quarter. Finally, Quent Capital LLC bought a new stake in Scholastic during the 1st quarter valued at $215,000. 82.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised 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 business’s stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average cost of $30.46 per share, for a total transaction of $50,990.04. Following the acquisition, the chief executive officer now owns 104,349 shares of the company’s stock, valued at $3,178,470.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Scholastic news, EVP Iole Lucchese bought 1,654 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average price 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 in the company, valued at $2,264,309.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Warwick Peter purchased 1,674 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were acquired at an average price of $30.46 per share, with a total value of $50,990.04. Following the completion of the transaction, the chief executive officer now owns 104,349 shares of the company’s stock, valued at $3,178,470.54. The disclosure for this purchase can be found here. 18.62% of the stock is currently owned by insiders.

Scholastic Trading Up 0.2 %

Shares of SCHL traded up $0.05 during mid-day trading on Monday, reaching $31.62. 121,981 shares of the stock traded hands, compared to its average volume of 208,107. Scholastic Co. has a 1 year low of $28.47 and a 1 year high of $44.73. The company has a market cap of $904.33 million, a price-to-earnings ratio of 21.81 and a beta of 1.02. The firm has a fifty day moving average price of $32.88 and a 200 day moving average price of $35.48.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.93). The business had revenue of $474.90 million for the quarter, compared to analysts’ expectations of $552.50 million. Scholastic had a return on equity of 3.34% and a net margin of 0.76%. On average, sell-side analysts anticipate that Scholastic Co. will post 1.52 EPS for the current year.

Scholastic Announces Dividend

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

Scholastic 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.