Virco Manufacturing (NASDAQ:VIRC) EVP Douglas Virtue Buys 4,349 Shares of Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) EVP Douglas Virtue bought 4,349 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were acquired at an average price of $6.07 per share, for a total transaction of $26,398.43. Following the completion of the transaction, the executive vice president owned 866,188 shares in the company, valued at $5,257,761.16. This represents a 0.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Virco Manufacturing Price Performance

Shares of Virco Manufacturing stock opened at $6.09 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.31 and a current ratio of 3.09. The firm’s 50-day simple moving average is $6.18 and its 200-day simple moving average is $6.61. Virco Manufacturing Corporation has a twelve month low of $5.16 and a twelve month high of $10.62. The firm has a market cap of $95.98 million, a P/E ratio of 35.82 and a beta of 0.27.

Virco Manufacturing (NASDAQ:VIRC) last issued its earnings results on Wednesday, April 8th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.10). Virco Manufacturing had a net margin of 1.29% and a return on equity of 2.18%. The business had revenue of $26.18 million for the quarter, compared to analyst estimates of $29.61 million. As a group, research analysts expect that Virco Manufacturing Corporation will post 1.54 EPS for the current fiscal year.

Virco Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 20th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, March 20th. Virco Manufacturing’s payout ratio is 58.82%.

Hedge Funds Weigh In On Virco Manufacturing

Several institutional investors have recently added to or reduced their stakes in VIRC. AQR Capital Management LLC lifted its holdings 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 purchasing an additional 64,944 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Virco Manufacturing during the 1st quarter valued at about $186,000. Goldman Sachs Group Inc. lifted its holdings in Virco Manufacturing by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 62,829 shares of the company’s stock valued at $594,000 after purchasing an additional 5,436 shares during the last quarter. Empowered Funds LLC bought a new position in Virco Manufacturing during the 1st quarter valued at about $258,000. Finally, Geode Capital Management LLC raised its stake in shares of Virco Manufacturing by 5.8% in the second quarter. Geode Capital Management LLC now owns 257,034 shares of the company’s stock worth $2,051,000 after acquiring an additional 14,203 shares during the last quarter. 30.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VIRC shares. Weiss Ratings downgraded shares of Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 10th. Freedom Capital raised shares of Virco Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

About Virco Manufacturing

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.