Virco Mfg. Co. (NASDAQ:VIRC – Get Free Report) announced a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Investors of record on Wednesday, March 26th will be given a dividend of 0.025 per share on Friday, April 11th. This represents a $0.10 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Wednesday, March 26th.
Virco Mfg. Stock Down 1.3 %
Virco Mfg. stock opened at $9.59 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.88 and a quick ratio of 1.70. Virco Mfg. has a fifty-two week low of $9.08 and a fifty-two week high of $18.50. The firm has a fifty day moving average price of $10.61 and a two-hundred day moving average price of $12.61. The firm has a market cap of $156.21 million, a price-to-earnings ratio of 6.19 and a beta of 0.76.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $17.00 price target (down from $20.00) on shares of Virco Mfg. in a research report on Tuesday, December 10th. StockNews.com downgraded shares of Virco Mfg. from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th.
Virco Mfg. declared that its board has authorized a stock repurchase program on Tuesday, January 21st that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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.
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