Minerva Advisors LLC boosted its position in shares of Virco Mfg. Co. (NASDAQ:VIRC - Free Report) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,162,589 shares of the company's stock after buying an additional 60,900 shares during the period. Virco Mfg. makes up approximately 6.9% of Minerva Advisors LLC's investment portfolio, making the stock its 5th largest position. Minerva Advisors LLC owned about 7.14% of Virco Mfg. worth $11,870,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc bought a new stake in shares of Virco Mfg. during the 4th quarter valued at approximately $30,000. MetLife Investment Management LLC grew its stake in shares of Virco Mfg. by 129.1% during the third quarter. MetLife Investment Management LLC now owns 6,231 shares of the company's stock worth $86,000 after buying an additional 3,511 shares during the last quarter. Virtus Investment Advisers Inc. acquired a new position in shares of Virco Mfg. during the third quarter worth $90,000. Walleye Capital LLC bought a new position in shares of Virco Mfg. in the 3rd quarter valued at $140,000. Finally, Creative Planning acquired a new stake in shares of Virco Mfg. during the 3rd quarter valued at $159,000. 30.97% of the stock is owned by institutional investors.
Virco Mfg. Trading Up 0.1 %
Shares of Virco Mfg. stock traded up $0.01 during trading on Friday, hitting $10.28. The company's stock had a trading volume of 74,770 shares, compared to its average volume of 120,233. The stock has a market cap of $167.45 million, a price-to-earnings ratio of 6.63 and a beta of 0.76. Virco Mfg. Co. has a 52 week low of $9.08 and a 52 week high of $18.50. The stock has a 50-day moving average price of $10.64 and a two-hundred day moving average price of $13.34. 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. (NASDAQ:VIRC - Get Free Report) last released its quarterly earnings results on Monday, December 9th. The company reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.35). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. During the same period in the prior year, the business posted $0.62 earnings per share. Equities research analysts anticipate that Virco Mfg. Co. will post 1.54 EPS for the current fiscal year.
Virco Mfg. announced that its Board of Directors has authorized a share buyback program on Tuesday, January 21st that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.
Virco Mfg. Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Friday, December 20th. Virco Mfg.'s dividend payout ratio is currently 6.45%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. StockNews.com cut Virco Mfg. from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. Wedbush reiterated an "outperform" rating and issued a $17.00 price objective (down previously from $20.00) on shares of Virco Mfg. in a report on Tuesday, December 10th.
Read Our Latest Stock Report on VIRC
About Virco Mfg.
(
Free Report)
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.
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