Douglas Virtue Purchases 11,678 Shares of Virco Manufacturing (NASDAQ:VIRC) Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) EVP Douglas Virtue purchased 11,678 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were purchased at an average cost of $6.09 per share, for a total transaction of $71,119.02. Following the transaction, the executive vice president directly owned 877,866 shares in the company, valued at approximately $5,346,203.94. This represents a 1.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Virco Manufacturing Price Performance

VIRC opened at $6.12 on Friday. 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 business’s fifty day simple moving average is $6.17 and its 200-day simple moving average is $6.60. The company has a market capitalization of $96.45 million, a price-to-earnings ratio of 36.00 and a beta of 0.27.

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 firm had revenue of $26.18 million for the quarter, compared to the consensus estimate of $29.61 million. On average, equities research analysts anticipate that Virco Manufacturing Corporation will post 1.54 earnings per share for the current fiscal year.

Virco Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 20th were given 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 is presently 58.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Weiss Ratings downgraded Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. Freedom Capital raised Virco Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Virco Manufacturing currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Virco Manufacturing

A number of institutional investors have recently added to or reduced their stakes in the stock. Minerva Advisors LLC boosted its position in Virco Manufacturing by 6.3% during the fourth quarter. Minerva Advisors LLC now owns 1,448,198 shares of the company’s stock valued at $9,254,000 after purchasing an additional 85,696 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Virco Manufacturing by 25.7% in the first quarter. AQR Capital Management LLC now owns 317,915 shares of the company’s stock worth $3,007,000 after acquiring an additional 64,944 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Virco Manufacturing by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 265,554 shares of the company’s stock worth $1,697,000 after acquiring an additional 4,355 shares in the last quarter. North Star Investment Management Corp. boosted its holdings in Virco Manufacturing by 13.2% in the third quarter. North Star Investment Management Corp. now owns 146,175 shares of the company’s stock worth $1,133,000 after acquiring an additional 17,000 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in Virco Manufacturing by 3.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 95,057 shares of the company’s stock worth $607,000 after acquiring an additional 3,095 shares in the last quarter. Institutional investors own 30.97% of the company’s stock.

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.