Virco Manufacturing (NASDAQ:VIRC) EVP Douglas Virtue Buys 11,678 Shares

Virco Manufacturing Corporation (NASDAQ:VIRC) EVP Douglas Virtue purchased 11,678 shares of Virco Manufacturing stock in a transaction on Wednesday, April 15th. The shares were acquired at an average cost of $6.09 per share, with a total value of $71,119.02. Following the completion of the transaction, 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 is available through the SEC website.

Virco Manufacturing Stock Performance

VIRC opened at $6.09 on Thursday. Virco Manufacturing Corporation has a 12-month low of $5.16 and a 12-month high of $10.62. The company has a current ratio of 3.09, a quick ratio of 1.31 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $95.98 million, a PE ratio of 35.82 and a beta of 0.27. The firm has a 50 day moving average of $6.18 and a two-hundred day moving average of $6.61.

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

Virco Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 20th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.6%. Virco Manufacturing’s dividend payout ratio (DPR) is presently 58.82%.

Institutional Investors Weigh In On Virco Manufacturing

A number of hedge funds and other institutional investors have recently made changes to their positions in VIRC. Park Edge Advisors LLC grew its stake in Virco Manufacturing by 12.9% in the 4th quarter. Park Edge Advisors LLC now owns 18,100 shares of the company’s stock valued at $116,000 after acquiring an additional 2,072 shares during the period. Barclays PLC grew its stake in Virco Manufacturing by 16.4% in the 4th quarter. Barclays PLC now owns 17,665 shares of the company’s stock valued at $113,000 after acquiring an additional 2,495 shares during the period. Bridgeway Capital Management LLC grew its stake in Virco Manufacturing by 3.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 87,221 shares of the company’s stock valued at $696,000 after acquiring an additional 2,882 shares during the period. Empowered Funds LLC grew its stake in Virco Manufacturing by 8.9% in the 4th quarter. Empowered Funds LLC now owns 37,957 shares of the company’s stock valued at $243,000 after acquiring an additional 3,095 shares during the period. Finally, Geode Capital Management LLC grew its stake in Virco Manufacturing by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 265,554 shares of the company’s stock valued at $1,697,000 after acquiring an additional 4,355 shares during the period. Institutional investors and hedge funds own 30.97% of the company’s stock.

Wall Street Analysts Forecast Growth

VIRC has been the topic of a number of analyst reports. Weiss Ratings cut shares of Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 10th. Freedom Capital raised shares of Virco Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average 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.