Jacobs Levy Equity Management Inc. Boosts Stock Position in Scholastic Co. (NASDAQ:SCHL)

Jacobs Levy Equity Management Inc. increased its holdings in shares of Scholastic Co. (NASDAQ:SCHL) by 16.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,017 shares of the company’s stock after buying an additional 43,199 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.07% of Scholastic worth $11,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in shares of Scholastic by 14.3% during the 4th quarter. SG Americas Securities LLC now owns 4,517 shares of the company’s stock worth $170,000 after purchasing an additional 566 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Scholastic in the fourth quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC raised its stake in Scholastic by 13.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company’s stock valued at $218,000 after purchasing an additional 697 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Scholastic by 11.4% in the 1st quarter. Bessemer Group Inc. now owns 7,455 shares of the company’s stock valued at $281,000 after purchasing an additional 762 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Scholastic by 2.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 47,456 shares of the company’s stock worth $1,789,000 after acquiring an additional 1,064 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Insider Buying and Selling at Scholastic

In related news, EVP Iole Lucchese acquired 1,654 shares of the firm’s stock in a transaction dated 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 acquisition, the executive vice president now owns 74,264 shares in the company, valued at approximately $2,264,309.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Scholastic news, EVP Iole Lucchese acquired 1,654 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $30.49 per share, for a total transaction of $50,430.46. Following the completion of the acquisition, the executive vice president now owns 74,264 shares of the company’s stock, valued at approximately $2,264,309.36. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Warwick Peter bought 1,674 shares of Scholastic stock in a transaction on Tuesday, July 23rd. The shares were acquired at an average price of $30.46 per share, for a total transaction of $50,990.04. Following the completion of the acquisition, the chief executive officer now owns 104,349 shares in the company, valued at $3,178,470.54. The disclosure for this purchase can be found here. 18.62% of the stock is currently owned by corporate insiders.

Scholastic Stock Up 3.1 %

NASDAQ:SCHL traded up $0.95 on Wednesday, hitting $31.67. The stock had a trading volume of 29,488 shares, compared to its average volume of 216,281. The company has a fifty day moving average price of $34.80 and a two-hundred day moving average price of $36.56. Scholastic Co. has a 1-year low of $28.64 and a 1-year high of $45.98. The stock has a market cap of $894.36 million, a price-to-earnings ratio of 21.19 and a beta of 1.02.

Scholastic Announces Dividend

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

Analyst Ratings Changes

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

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