Los Angeles Capital Management LLC Invests $1.01 Million in Virco Mfg. Co. (NASDAQ:VIRC)

Los Angeles Capital Management LLC purchased a new position in Virco Mfg. Co. (NASDAQ:VIRC - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 73,355 shares of the company's stock, valued at approximately $1,013,000. Los Angeles Capital Management LLC owned 0.45% of Virco Mfg. as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of VIRC. Algert Global LLC grew its position in shares of Virco Mfg. by 17.2% during the 2nd quarter. Algert Global LLC now owns 12,158 shares of the company's stock valued at $169,000 after acquiring an additional 1,785 shares during the period. Lazard Asset Management LLC boosted its stake 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 valued at $37,000 after purchasing an additional 1,850 shares in the last quarter. nVerses Capital LLC purchased a new stake in Virco Mfg. in the second quarter worth about $36,000. Ritholtz Wealth Management boosted its stake in Virco Mfg. by 7.0% in the 3rd quarter. Ritholtz Wealth Management now owns 97,527 shares of the company's stock worth $1,347,000 after purchasing an additional 6,399 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Virco Mfg. by 12.5% during the third 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 last quarter. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Virco Mfg. Trading Down 1.3 %

VIRC stock traded down $0.20 during midday trading on Friday, reaching $14.82. 71,900 shares of the company traded hands, compared to its average volume of 122,866. Virco Mfg. Co. has a 52-week low of $6.20 and a 52-week high of $18.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.20 and a current ratio of 2.26. The business has a 50 day moving average of $14.40 and a 200-day moving average of $14.40. The firm has a market capitalization of $241.42 million, a price-to-earnings ratio of 8.98 and a beta of 0.65.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last issued its 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 analyst estimates of $115.90 million. Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. 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 business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, September 20th. This is an increase from Virco Mfg.'s previous quarterly dividend of $0.02. Virco Mfg.'s payout ratio is currently 6.06%.

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.