LSV Asset Management Has $975,000 Holdings in Virco Mfg. Co. (NASDAQ:VIRC)

LSV Asset Management trimmed its stake in Virco Mfg. Co. (NASDAQ:VIRC) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 95,100 shares of the company’s stock after selling 2,176 shares during the period. LSV Asset Management’s holdings in Virco Mfg. were worth $975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in VIRC. IFP Advisors Inc acquired a new stake in Virco Mfg. during the fourth quarter worth about $30,000. Quantbot Technologies LP acquired a new stake in shares of Virco Mfg. during the 4th quarter worth approximately $70,000. Meeder Asset Management Inc. bought a new stake in shares of Virco Mfg. during the fourth quarter valued at approximately $72,000. Principal Financial Group Inc. raised its stake in shares of Virco Mfg. by 11.4% in the fourth quarter. Principal Financial Group Inc. now owns 15,656 shares of the company’s stock valued at $160,000 after purchasing an additional 1,604 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Virco Mfg. by 11.8% during the fourth quarter. Rhumbline Advisers now owns 16,653 shares of the company’s stock worth $171,000 after buying an additional 1,753 shares in the last quarter. Institutional investors own 30.97% of the company’s stock.

Virco Mfg. Stock Down 2.6 %

NASDAQ VIRC opened at $10.03 on Tuesday. Virco Mfg. Co. has a 1-year low of $8.52 and a 1-year high of $18.50. The company has a current ratio of 2.88, a quick ratio of 1.70 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $10.20 and its two-hundred day moving average is $12.02. The company has a market capitalization of $163.38 million, a price-to-earnings ratio of 6.47 and a beta of 0.41.

Virco Mfg. announced that its Board of Directors has approved a stock buyback plan on Tuesday, January 21st that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Virco Mfg. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Wednesday, March 26th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Wednesday, March 26th. Virco Mfg.’s dividend payout ratio (DPR) is 6.45%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Virco Mfg. from a “hold” rating to a “buy” rating in a research note on Monday.

Virco Mfg. Company 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.