Virco Mfg. Co. (NASDAQ:VIRC) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its holdings in shares of Virco Mfg. Co. (NASDAQ:VIRC - Free Report) by 24.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 234,911 shares of the company's stock after selling 75,619 shares during the period. Renaissance Technologies LLC owned approximately 1.44% of Virco Mfg. worth $2,408,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Minerva Advisors LLC boosted its stake 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 buying an additional 60,900 shares during the period. American Century Companies Inc. grew its stake in shares of Virco Mfg. by 15.4% in the 4th quarter. American Century Companies Inc. now owns 453,107 shares of the company's stock valued at $4,644,000 after purchasing an additional 60,403 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Virco Mfg. by 2.9% in the third quarter. Geode Capital Management LLC now owns 240,844 shares of the company's stock valued at $3,327,000 after purchasing an additional 6,710 shares during the period. State Street Corp raised its stake 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 last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Virco Mfg. by 311.6% during the fourth quarter. Bank of New York Mellon Corp now owns 145,530 shares of the company's stock worth $1,492,000 after purchasing an additional 110,173 shares during the period. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Virco Mfg. from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd.

Virco Mfg. Stock Performance

Shares of VIRC stock traded up $0.07 during trading hours on Tuesday, reaching $9.31. 67,150 shares of the company's stock were exchanged, compared to its average volume of 187,001. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.88 and a quick ratio of 1.70. The company's 50 day moving average is $9.87 and its two-hundred day moving average is $11.74. The company has a market cap of $149.77 million, a P/E ratio of 6.01 and a beta of 0.41. Virco Mfg. Co. has a 1 year low of $8.40 and a 1 year high of $18.50.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last released its earnings results on Monday, April 14th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.20). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. The business had revenue of $28.47 million during the quarter, compared to analyst estimates of $43.00 million. Equities research analysts anticipate that Virco Mfg. Co. will post 1.54 EPS for the current fiscal year.

Virco Mfg. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Wednesday, March 26th were given a dividend of $0.025 per share. The ex-dividend date was Wednesday, March 26th. This represents a $0.10 annualized dividend and a yield of 1.07%. Virco Mfg.'s payout ratio is currently 7.46%.

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

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.