83,475 Shares in Virco Mfg. Co. (NASDAQ:VIRC) Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new position in shares of Virco Mfg. Co. (NASDAQ:VIRC - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 83,475 shares of the company's stock, valued at approximately $1,153,000. Janney Montgomery Scott LLC owned approximately 0.51% of Virco Mfg. as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in VIRC. Algert Global LLC increased its stake in Virco Mfg. by 17.2% during the second quarter. Algert Global LLC now owns 12,158 shares of the company's stock worth $169,000 after acquiring an additional 1,785 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Virco Mfg. by 115.6% during the 1st quarter. Lazard Asset Management LLC now owns 3,450 shares of the company's stock worth $37,000 after purchasing an additional 1,850 shares during the period. nVerses Capital LLC purchased a new stake in Virco Mfg. in the second quarter valued at approximately $36,000. Ritholtz Wealth Management grew its stake in shares of Virco Mfg. by 7.0% in the third quarter. Ritholtz Wealth Management now owns 97,527 shares of the company's stock valued at $1,347,000 after buying an additional 6,399 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Virco Mfg. by 12.5% in the 3rd quarter. Inspire Investing LLC now owns 58,300 shares of the company's stock valued at $805,000 after buying an additional 6,481 shares during the period. Hedge funds and other institutional investors own 30.97% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Virco Mfg. from a "strong-buy" rating to a "buy" rating in a report on Thursday, July 25th.

Virco Mfg. Stock Down 1.3 %

Shares of VIRC stock traded down $0.20 on Friday, reaching $14.82. 71,900 shares of the stock were exchanged, compared to its average volume of 122,866. Virco Mfg. Co. has a twelve month low of $6.20 and a twelve month high of $18.50. The company has a current ratio of 2.26, a quick ratio of 1.20 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $241.42 million, a price-to-earnings ratio of 8.98 and a beta of 0.65. The business's 50 day moving average price is $14.40 and its 200 day moving average price is $14.40.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last announced its quarterly earnings results on Monday, September 9th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $108.42 million during the quarter, compared to the consensus estimate of $115.90 million. Virco Mfg. had a return on equity of 27.88% and a net margin of 9.50%. As a group, sell-side analysts expect that Virco Mfg. Co. will post 1.93 earnings per share for the current fiscal year.

Virco Mfg. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were issued a $0.025 dividend. This is an increase from Virco Mfg.'s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, September 20th. Virco Mfg.'s dividend payout ratio is presently 6.06%.

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.