Virco Mfg. (NASDAQ:VIRC) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Virco Mfg. Co. (NASDAQ:VIRC - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.02 and traded as high as $14.40. Virco Mfg. shares last traded at $14.12, with a volume of 81,809 shares changing hands.

Wall Street Analyst Weigh In

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

Virco Mfg. Stock Down 1.6 %

The stock's 50-day simple moving average is $14.60 and its 200 day simple moving average is $14.04. The firm has a market cap of $226.43 million, a P/E ratio of 8.42 and a beta of 0.64. The company has a quick ratio of 1.20, a current ratio of 2.26 and a debt-to-equity ratio of 0.04.

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

Virco Mfg. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 20th were paid a $0.025 dividend. The ex-dividend date of this dividend was Friday, September 20th. This is a boost from Virco Mfg.'s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a yield of 0.72%. Virco Mfg.'s dividend payout ratio is currently 6.06%.

Hedge Funds Weigh In On Virco Mfg.

A number of large investors have recently added to or reduced their stakes in VIRC. Vanguard Group Inc. boosted its stake in shares of Virco Mfg. by 78.2% during the 1st quarter. Vanguard Group Inc. now owns 477,218 shares of the company's stock valued at $5,216,000 after purchasing an additional 209,366 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Virco Mfg. by 124.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 124,642 shares of the company's stock valued at $1,362,000 after buying an additional 69,179 shares during the period. Cetera Advisors LLC bought a new position in shares of Virco Mfg. in the first quarter worth approximately $654,000. Janney Montgomery Scott LLC bought a new position in shares of Virco Mfg. in the first quarter worth approximately $675,000. Finally, LSV Asset Management boosted its position in shares of Virco Mfg. by 956.1% in the second quarter. LSV Asset Management now owns 86,643 shares of the company's stock worth $1,208,000 after purchasing an additional 78,439 shares during the period. Hedge funds and other institutional investors own 30.97% of the company's stock.

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.