Minerva Advisors LLC grew its stake in shares of Virco Manufacturing Corporation (NASDAQ:VIRC – Free Report) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,448,198 shares of the company’s stock after purchasing an additional 85,696 shares during the quarter. Virco Manufacturing makes up approximately 6.2% of Minerva Advisors LLC’s investment portfolio, making the stock its 5th largest position. Minerva Advisors LLC owned approximately 9.19% of Virco Manufacturing worth $9,254,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. KTF Investments LLC purchased a new stake in shares of Virco Manufacturing during the fourth quarter valued at $179,000. D.A. Davidson & CO. boosted its stake in shares of Virco Manufacturing by 16.2% during the fourth quarter. D.A. Davidson & CO. now owns 35,100 shares of the company’s stock valued at $224,000 after purchasing an additional 4,900 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Virco Manufacturing during the fourth quarter valued at $47,000. Park Edge Advisors LLC boosted its stake in shares of Virco Manufacturing by 12.9% during the fourth quarter. Park Edge Advisors LLC now owns 18,100 shares of the company’s stock valued at $116,000 after purchasing an additional 2,072 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Virco Manufacturing during the third quarter valued at $41,000. 30.97% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, EVP Douglas A. Virtue acquired 11,678 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were purchased at an average price of $6.09 per share, for a total transaction of $71,119.02. Following the completion of the acquisition, the executive vice president directly owned 877,866 shares in the company, valued at $5,346,203.94. The trade was a 1.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 22,527 shares of company stock worth $135,562 in the last 90 days. Corporate insiders own 16.94% of the company’s stock.
Virco Manufacturing Stock Performance
Virco Manufacturing (NASDAQ:VIRC – Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.10). The firm had revenue of $26.18 million during the quarter, compared to the consensus estimate of $29.61 million. Virco Manufacturing had a return on equity of 2.18% and a net margin of 1.29%.
Virco Manufacturing Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 20th were issued a $0.025 dividend. The ex-dividend date was Friday, March 20th. This represents a $0.10 dividend on an annualized basis and a yield of 1.7%. Virco Manufacturing’s payout ratio is currently 58.82%.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Freedom Capital raised shares of Virco Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 9th. Weiss Ratings lowered shares of Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.
Check Out Our Latest Analysis on Virco Manufacturing
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.
Recommended Stories
- Five stocks we like better than Virco Manufacturing
- SpaceX Gets the Attention, But These 4 Stocks Could Get the Returns
- Microsoft Stock Discount May Be Ending as AI Catalysts Build
- Apparel Earnings Winners and Losers: Ralph Lauren Takes Off
- Why Walmart, Target and TJX Got Such Different Reactions After Earnings
Receive News & Ratings for Virco Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virco Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.
