Virco Manufacturing (NASDAQ:VIRC – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19), Zacks reports. The firm had revenue of $30.69 million for the quarter, compared to analyst estimates of $27.20 million. Virco Manufacturing had a return on equity of 2.18% and a net margin of 1.29%.
Virco Manufacturing Stock Down 9.5%
Shares of NASDAQ VIRC opened at $5.44 on Thursday. The company has a 50 day simple moving average of $6.04 and a 200 day simple moving average of $6.33. The firm has a market cap of $85.57 million, a PE ratio of 32.00 and a beta of 0.21. Virco Manufacturing has a 1 year low of $5.16 and a 1 year high of $9.09. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.09 and a quick ratio of 1.31.
Virco Manufacturing Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, June 18th. Virco Manufacturing’s dividend payout ratio (DPR) is 58.82%.
Analyst Upgrades and Downgrades
Get Our Latest Analysis on Virco Manufacturing
Insider Transactions at Virco Manufacturing
In other Virco Manufacturing news, EVP Douglas A. Virtue acquired 11,678 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was acquired at an average price of $6.09 per share, for a total transaction of $71,119.02. Following the acquisition, the executive vice president directly owned 877,866 shares in the company, valued at $5,346,203.94. This represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have purchased 22,527 shares of company stock valued at $135,562. 16.94% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in VIRC. Barclays PLC raised its holdings in Virco Manufacturing by 16.4% during the 4th quarter. Barclays PLC now owns 17,665 shares of the company’s stock worth $113,000 after purchasing an additional 2,495 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of 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 purchasing an additional 2,882 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of 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 purchasing an additional 3,095 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Virco Manufacturing by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 265,554 shares of the company’s stock worth $1,697,000 after buying an additional 4,355 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Virco Manufacturing by 18.2% during the fourth quarter. Wells Fargo & Company MN now owns 28,777 shares of the company’s stock worth $184,000 after buying an additional 4,427 shares during the period. Institutional investors own 30.97% of the company’s stock.
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.
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