Royce Associates Lp buys $85,659,840 stake in Scholastic Corp (SCHL)

Scholastic Corp (SCHL) : Royce Associates Lp scooped up 38,500 additional shares in Scholastic Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 2,124,500 shares of Scholastic Corp which is valued at $85,659,840.Scholastic Corp makes up approximately 0.53% of Royce Associates Lp’s portfolio.

Other Hedge Funds, Including , Advisors Asset Management reduced its stake in SCHL by selling 167 shares or 2.4% in the most recent quarter. The Hedge Fund company now holds 6,791 shares of SCHL which is valued at $273,813.Strs Ohio boosted its stake in SCHL in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 323,000 shares of Scholastic Corp which is valued at $13,482,020. Scholastic Corp makes up approx 0.06% of Strs Ohio’s portfolio.Acadian Asset Management boosted its stake in SCHL in the latest quarter, The investment management firm added 16,105 additional shares and now holds a total of 19,805 shares of Scholastic Corp which is valued at $805,667. Cutler Group Lp added SCHL to its portfolio by purchasing 171 company shares during the most recent quarter which is valued at $6,960.

Scholastic Corp opened for trading at $40.32 and hit $40.8 on the upside on Monday, eventually ending the session at $40.78, with a gain of 1.34% or 0.54 points. The heightened volatility saw the trading volume jump to 77,057 shares. Company has a market cap of $1,399 M.

On the company’s financial health, Scholastic Corp reported $1.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.27 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.95. The company had revenue of $513.80 million for the quarter, compared to analysts expectations of $501.60 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.

Investors should note that on Jul 20, 2016, Scholastic Corp announced a cash dividend of $0.1500. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.

Scholastic Corporation is a publisher and distributor of children’s books. The Company has three segments: Children’s Book Publishing and Distribution Education and International. The Company’s Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books e-books media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel. Its Education segment includes the publication and distribution to schools and libraries of children’s books classroom magazines supplemental classroom materials and print and online reference and non-fiction products for grades pre-K to 12 in the United States. Its International segment includes the publication and distribution of products and services outside the United States by its international operations and its export and foreign rights businesses.

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