Insider Buying: Scholastic Co. (NASDAQ:SCHL) EVP Buys 1,654 Shares of Stock

Scholastic Co. (NASDAQ:SCHL) EVP Iole Lucchese acquired 1,654 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $30.49 per share, with a total value of $50,430.46. Following the transaction, the executive vice president now owns 74,264 shares of the company’s stock, valued at $2,264,309.36. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Scholastic Stock Up 2.1 %

Shares of Scholastic stock opened at $31.58 on Friday. The firm has a market cap of $891.82 million, a price-to-earnings ratio of 21.78 and a beta of 1.02. Scholastic Co. has a twelve month low of $28.64 and a twelve month high of $45.98. The business has a 50-day moving average price of $35.03 and a 200-day moving average price of $36.67.

Scholastic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 2.53%. Scholastic’s dividend payout ratio is currently 55.17%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cornercap Investment Counsel Inc. purchased a new position in Scholastic in the fourth quarter worth about $974,000. Dynamic Technology Lab Private Ltd purchased a new position in Scholastic in the fourth quarter worth about $1,823,000. Oak Family Advisors LLC grew its position in Scholastic by 15.2% in the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in Scholastic by 5.1% in the fourth 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 in the last quarter. Finally, Allianz Asset Management GmbH grew its position in Scholastic by 55.6% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

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.