Virco Manufacturing (NASDAQ:VIRC) CEO Robert Virtue Buys 2,500 Shares

Virco Manufacturing Corporation (NASDAQ:VIRC) CEO Robert Virtue purchased 2,500 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was bought at an average cost of $6.32 per share, for a total transaction of $15,800.00. Following the completion of the purchase, the chief executive officer directly owned 495,824 shares in the company, valued at approximately $3,133,607.68. This trade represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Virco Manufacturing Trading Down 2.9%

VIRC stock traded down $0.19 during midday trading on Tuesday, hitting $6.32. The company had a trading volume of 49,367 shares, compared to its average volume of 45,009. The stock has a market cap of $99.60 million, a price-to-earnings ratio of 23.41 and a beta of 0.22. Virco Manufacturing Corporation has a 52 week low of $6.01 and a 52 week high of $12.09. The company has a current ratio of 3.98, a quick ratio of 1.80 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $6.74 and its 200 day moving average price is $7.50.

Virco Manufacturing (NASDAQ:VIRC) last issued its earnings results on Monday, December 8th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.55). The firm had revenue of $47.64 million during the quarter, compared to analysts’ expectations of $85.90 million. Virco Manufacturing had a return on equity of 3.33% and a net margin of 1.91%. As a group, equities research analysts expect that Virco Manufacturing Corporation will post 1.54 earnings per share for the current fiscal year.

Virco Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, December 19th. Virco Manufacturing’s dividend payout ratio is currently 37.04%.

Hedge Funds Weigh In On Virco Manufacturing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Minerva Advisors LLC boosted its holdings in shares of Virco Manufacturing by 6.2% during the 3rd quarter. Minerva Advisors LLC now owns 1,362,502 shares of the company’s stock valued at $10,559,000 after buying an additional 78,986 shares in the last quarter. AQR Capital Management LLC lifted its position in Virco Manufacturing by 25.7% during the 1st quarter. AQR Capital Management LLC now owns 317,915 shares of the company’s stock valued at $3,007,000 after acquiring an additional 64,944 shares during the period. Los Angeles Capital Management LLC lifted its position in Virco Manufacturing by 68.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 118,449 shares of the company’s stock valued at $945,000 after acquiring an additional 48,135 shares during the period. Bastion Asset Management Inc. boosted its stake in Virco Manufacturing by 12.6% during the second quarter. Bastion Asset Management Inc. now owns 290,885 shares of the company’s stock worth $2,321,000 after acquiring an additional 32,656 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Virco Manufacturing in the third quarter worth about $235,000. Hedge funds and other institutional investors own 30.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen lowered Virco Manufacturing from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Virco Manufacturing in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.