Douglas Virtue Buys 8,083 Shares of Virco Manufacturing (NASDAQ:VIRC) Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) EVP Douglas Virtue bought 8,083 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $48,498.00. Following the transaction, the executive vice president directly owned 888,663 shares in the company, valued at approximately $5,331,978. This represents a 0.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Virco Manufacturing Trading Up 4.3%

Shares of Virco Manufacturing stock opened at $6.36 on Friday. Virco Manufacturing Corporation has a 12-month low of $5.16 and a 12-month high of $9.09. The stock has a market cap of $100.04 million, a price-to-earnings ratio of -105.98 and a beta of 0.21. The company has a current ratio of 2.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $6.11 and a 200-day simple moving average of $6.22.

Virco Manufacturing (NASDAQ:VIRC) last announced its earnings results on Wednesday, June 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). The firm had revenue of $30.69 million during the quarter, compared to analyst estimates of $27.20 million. Virco Manufacturing had a negative net margin of 0.48% and a negative return on equity of 0.16%.

Virco Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 19th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, June 18th. Virco Manufacturing’s dividend payout ratio (DPR) is -166.67%.

Institutional Investors Weigh In On Virco Manufacturing

A number of institutional investors have recently bought and sold shares of VIRC. Minerva Advisors LLC lifted 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 buying an additional 85,696 shares in the last quarter. AQR Capital Management LLC lifted its position in Virco Manufacturing by 25.7% during the 1st 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 lifted its position in shares of Virco Manufacturing by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 265,554 shares of the company’s stock worth $1,697,000 after purchasing an additional 4,355 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in Virco Manufacturing by 3.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 95,057 shares of the company’s stock valued at $607,000 after purchasing an additional 3,095 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Virco Manufacturing by 32.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 82,517 shares of the company’s stock worth $658,000 after buying an additional 20,004 shares in the last quarter. 30.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VIRC. Freedom Capital lowered Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Virco Manufacturing in a report on Wednesday. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Virco Manufacturing has an average rating of “Reduce”.

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.