Virco Mfg. Co. (NASDAQ:VIRC) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its stake in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 42.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 104,235 shares of the company’s stock after purchasing an additional 30,880 shares during the period. Los Angeles Capital Management LLC’s holdings in Virco Mfg. were worth $1,068,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of Virco Mfg. by 11.4% during the 4th quarter. Principal Financial Group Inc. now owns 15,656 shares of the company’s stock worth $160,000 after purchasing an additional 1,604 shares during the period. Rhumbline Advisers grew its stake in shares of Virco Mfg. by 11.8% during the 4th quarter. Rhumbline Advisers now owns 16,653 shares of the company’s stock worth $171,000 after purchasing an additional 1,753 shares during the period. IFP Advisors Inc acquired a new position in shares of Virco Mfg. during the 4th quarter worth $30,000. Barclays PLC boosted its position in shares of Virco Mfg. by 25.8% in the 3rd quarter. Barclays PLC now owns 14,445 shares of the company’s stock worth $200,000 after buying an additional 2,961 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Virco Mfg. by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 6,231 shares of the company’s stock worth $86,000 after buying an additional 3,511 shares in the last quarter. 30.97% of the stock is owned by institutional investors and hedge funds.

Virco Mfg. Price Performance

Virco Mfg. stock opened at $10.28 on Friday. Virco Mfg. Co. has a 52 week low of $9.08 and a 52 week high of $18.50. The company has a quick ratio of 1.70, a current ratio of 2.88 and a debt-to-equity ratio of 0.03. The firm’s 50-day simple moving average is $10.64 and its 200 day simple moving average is $13.29. The firm has a market capitalization of $167.45 million, a PE ratio of 6.63 and a beta of 0.76.

Virco Mfg. (NASDAQ:VIRC) last released its earnings results on Monday, December 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, equities research analysts predict that Virco Mfg. Co. will post 1.54 EPS for the current fiscal year.

Virco Mfg. declared that its board has approved a share buyback plan on Tuesday, January 21st that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Virco Mfg. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, December 20th. Virco Mfg.’s dividend payout ratio is currently 6.45%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Virco Mfg. from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Wedbush reiterated an “outperform” rating and issued a $17.00 price objective (down from $20.00) on shares of Virco Mfg. in a research report on Tuesday, December 10th.

Virco Mfg. Profile

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.