Virco Manufacturing Corporation $VIRC Stake Lessened by Bastion Asset Management Inc.

Bastion Asset Management Inc. decreased its holdings in shares of Virco Manufacturing Corporation (NASDAQ:VIRC) by 35.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,167 shares of the company’s stock after selling 103,718 shares during the quarter. Bastion Asset Management Inc. owned 1.19% of Virco Manufacturing worth $1,451,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Acadian Asset Management LLC grew its stake in Virco Manufacturing by 1.8% during the 2nd quarter. Acadian Asset Management LLC now owns 420,776 shares of the company’s stock valued at $3,355,000 after acquiring an additional 7,504 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Virco Manufacturing by 68.5% during the second quarter. Los Angeles Capital Management LLC now owns 118,449 shares of the company’s stock worth $945,000 after purchasing an additional 48,135 shares during the period. Minerva Advisors LLC grew its position in Virco Manufacturing by 6.0% during the second quarter. Minerva Advisors LLC now owns 1,283,516 shares of the company’s stock valued at $10,242,000 after purchasing an additional 73,061 shares in the last quarter. LSV Asset Management increased its stake in Virco Manufacturing by 13.3% in the 2nd quarter. LSV Asset Management now owns 181,700 shares of the company’s stock valued at $1,450,000 after buying an additional 21,300 shares during the period. Finally, AQR Capital Management LLC increased its stake in Virco Manufacturing by 25.7% in the 1st quarter. AQR Capital Management LLC now owns 317,915 shares of the company’s stock valued at $3,007,000 after buying an additional 64,944 shares during the period. 30.97% of the stock is owned by institutional investors and hedge funds.

Virco Manufacturing Stock Performance

Shares of VIRC opened at $6.29 on Monday. The firm has a market cap of $99.13 million, a price-to-earnings ratio of 23.30 and a beta of 0.23. The company’s fifty day moving average is $6.48 and its 200-day moving average is $7.22. The company has a quick ratio of 1.80, a current ratio of 3.98 and a debt-to-equity ratio of 0.03. Virco Manufacturing Corporation has a 12 month low of $6.00 and a 12 month high of $12.09.

Virco Manufacturing (NASDAQ:VIRC) last issued its quarterly earnings data on Monday, December 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.55). The business had revenue of $47.64 million during the quarter, compared to the consensus estimate of $85.90 million. Virco Manufacturing had a return on equity of 3.33% and a net margin of 1.91%. Equities analysts expect that Virco Manufacturing Corporation will post 1.54 EPS for the current fiscal year.

Virco Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, December 19th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.6%. Virco Manufacturing’s dividend payout ratio is currently 37.04%.

Wall Street Analyst Weigh In

VIRC has been the subject of a number of research reports. Wall Street Zen lowered shares of Virco Manufacturing from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Virco Manufacturing in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Virco Manufacturing 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.