Virco Mfg. Co. (NASDAQ:VIRC) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. grew its stake in shares of Virco Mfg. Co. (NASDAQ:VIRC - Free Report) by 15.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 453,107 shares of the company's stock after acquiring an additional 60,403 shares during the quarter. American Century Companies Inc. owned about 2.78% of Virco Mfg. worth $4,644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in Virco Mfg. by 311.6% during the 4th quarter. Bank of New York Mellon Corp now owns 145,530 shares of the company's stock worth $1,492,000 after acquiring an additional 110,173 shares during the period. Quartz Partners LLC purchased a new position in shares of Virco Mfg. in the fourth quarter worth about $883,000. Minerva Advisors LLC lifted its holdings in shares of Virco Mfg. by 5.5% during the fourth quarter. Minerva Advisors LLC now owns 1,162,589 shares of the company's stock worth $11,870,000 after purchasing an additional 60,900 shares during the period. State Street Corp lifted its holdings in shares of Virco Mfg. by 22.6% during the third quarter. State Street Corp now owns 170,300 shares of the company's stock worth $2,356,000 after purchasing an additional 31,415 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in Virco Mfg. by 42.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 104,235 shares of the company's stock valued at $1,068,000 after buying an additional 30,880 shares during the last quarter. 30.97% of the stock is owned by hedge funds and other institutional investors.

Virco Mfg. Stock Performance

NASDAQ:VIRC traded up $0.20 during mid-day trading on Thursday, hitting $10.00. The company's stock had a trading volume of 102,749 shares, compared to its average volume of 189,553. The business's fifty day moving average is $10.24 and its two-hundred day moving average is $12.08. The stock has a market cap of $162.89 million, a price-to-earnings ratio of 6.45 and a beta of 0.41. Virco Mfg. Co. has a 1 year low of $8.52 and a 1 year high of $18.50. 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. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Wednesday, March 26th will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, March 26th. Virco Mfg.'s dividend payout ratio (DPR) is 6.45%.

Virco Mfg. announced that its Board of Directors has approved a share repurchase program on Tuesday, January 21st that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Virco Mfg. from a "buy" rating to a "hold" rating in a research report on Sunday.

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.