Janney Montgomery Scott LLC Purchases Shares of 83,475 Virco Mfg. Co. (NASDAQ:VIRC)

Janney Montgomery Scott LLC acquired a new position in shares of Virco Mfg. Co. (NASDAQ:VIRC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 83,475 shares of the company’s stock, valued at approximately $1,153,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Inspire Advisors LLC acquired a new position in shares of Virco Mfg. during the third quarter valued at about $572,000. Creative Planning bought a new stake in Virco Mfg. during the 3rd quarter worth approximately $159,000. Inspire Investing LLC increased its holdings in Virco Mfg. by 12.5% during the 3rd quarter. Inspire Investing LLC now owns 58,300 shares of the company’s stock worth $805,000 after acquiring an additional 6,481 shares during the period. Ritholtz Wealth Management grew its stake in Virco Mfg. by 7.0% in the 3rd quarter. Ritholtz Wealth Management now owns 97,527 shares of the company’s stock worth $1,347,000 after buying an additional 6,399 shares in the last quarter. Finally, Algert Global LLC boosted its stake in shares of Virco Mfg. by 17.2% in the 2nd quarter. Algert Global LLC now owns 12,158 shares of the company’s stock valued at $169,000 after purchasing an additional 1,785 shares in the last quarter. 30.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th.

Virco Mfg. Stock Down 1.3 %

Shares of Virco Mfg. stock opened at $14.82 on Friday. The firm has a market cap of $241.42 million, a price-to-earnings ratio of 8.98 and a beta of 0.65. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.26 and a quick ratio of 1.20. Virco Mfg. Co. has a 1 year low of $6.20 and a 1 year high of $18.50. The company has a 50-day moving average of $14.40 and a 200 day moving average of $14.40.

Virco Mfg. (NASDAQ:VIRC) last posted its quarterly earnings data on Monday, September 9th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. The company had revenue of $108.42 million for the quarter, compared to the consensus estimate of $115.90 million. As a group, sell-side analysts anticipate that Virco Mfg. Co. will post 1.93 earnings per share for the current fiscal year.

Virco Mfg. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were given a dividend of $0.025 per share. The ex-dividend date was Friday, September 20th. This represents a $0.10 annualized dividend and a dividend yield of 0.67%. This is a boost from Virco Mfg.’s previous quarterly dividend of $0.02. Virco Mfg.’s dividend payout ratio (DPR) is presently 6.06%.

About Virco Mfg.

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.