Koss Olinger Consulting LLC Reduces Stock Position in Virco Manufacturing Corporation $VIRC

Koss Olinger Consulting LLC lessened its stake in shares of Virco Manufacturing Corporation (NASDAQ:VIRC) by 7.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,229 shares of the company’s stock after selling 4,587 shares during the quarter. Koss Olinger Consulting LLC owned about 0.37% of Virco Manufacturing worth $465,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Minerva Advisors LLC boosted its holdings in shares of Virco Manufacturing by 4.1% during the 1st quarter. Minerva Advisors LLC now owns 1,210,455 shares of the company’s stock valued at $11,451,000 after acquiring an additional 47,866 shares during the last quarter. Bastion Asset Management Inc. boosted its holdings in shares of Virco Manufacturing by 65.1% during the 1st quarter. Bastion Asset Management Inc. now owns 258,229 shares of the company’s stock valued at $2,443,000 after acquiring an additional 101,796 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Virco Manufacturing during the 1st quarter valued at about $1,111,000. Arkadios Wealth Advisors purchased a new stake in shares of Virco Manufacturing during the 1st quarter valued at about $1,112,000. Finally, American Century Companies Inc. boosted its holdings in shares of Virco Manufacturing by 9.6% during the 1st quarter. American Century Companies Inc. now owns 496,456 shares of the company’s stock valued at $4,696,000 after acquiring an additional 43,349 shares during the last quarter. Hedge funds and other institutional investors own 30.97% of the company’s stock.

Virco Manufacturing Trading Down 0.9%

Virco Manufacturing stock opened at $7.40 on Tuesday. The stock has a market cap of $116.62 million, a P/E ratio of 8.51 and a beta of 0.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.96 and a quick ratio of 1.38. Virco Manufacturing Corporation has a 1 year low of $6.65 and a 1 year high of $17.31. The firm’s 50 day moving average price is $7.82 and its 200-day moving average price is $8.26.

Virco Manufacturing (NASDAQ:VIRC) last released its quarterly earnings data on Friday, September 5th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.14). The company had revenue of $92.09 million for the quarter, compared to the consensus estimate of $113.80 million. Virco Manufacturing had a net margin of 5.74% and a return on equity of 12.04%. On average, equities analysts predict that Virco Manufacturing Corporation will post 1.54 earnings per share for the current fiscal year.

Virco Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 19th were given a dividend of $0.025 per share. The ex-dividend date was Friday, September 19th. This represents a $0.10 annualized dividend and a dividend yield of 1.4%. Virco Manufacturing’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity at Virco Manufacturing

In other Virco Manufacturing news, EVP Douglas A. Virtue acquired 13,022 shares of the stock in a transaction on Friday, October 17th. The stock was acquired at an average price of $7.34 per share, for a total transaction of $95,581.48. Following the completion of the transaction, the executive vice president directly owned 861,839 shares of the company’s stock, valued at $6,325,898.26. This trade represents a 1.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert A. Virtue acquired 5,000 shares of the company’s stock in a transaction on Thursday, October 16th. The shares were purchased at an average cost of $6.96 per share, with a total value of $34,800.00. Following the completion of the purchase, the chief executive officer directly owned 493,324 shares of the company’s stock, valued at $3,433,535.04. This trade represents a 1.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 18.13% of the company’s stock.

Analysts Set New Price Targets

VIRC has been the topic of a number of recent analyst reports. Zacks Research raised shares of Virco Manufacturing to a “hold” rating in a report on Friday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Virco Manufacturing in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.00.

About Virco Manufacturing

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.