O Shaughnessy Asset Management LLC Lowers Stock Holdings in Virco Mfg. Co. (NASDAQ:VIRC)

O Shaughnessy Asset Management LLC lowered its position in shares of Virco Mfg. Co. (NASDAQ:VIRC - Free Report) by 15.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 171,186 shares of the company's stock after selling 32,374 shares during the quarter. O Shaughnessy Asset Management LLC owned about 1.05% of Virco Mfg. worth $1,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Virco Mfg. by 28.5% during the fourth quarter. JPMorgan Chase & Co. now owns 38,828 shares of the company's stock worth $398,000 after buying an additional 8,607 shares in the last quarter. WINTON GROUP Ltd raised its stake in Virco Mfg. by 34.5% in the fourth quarter. WINTON GROUP Ltd now owns 98,360 shares of the company's stock valued at $1,008,000 after purchasing an additional 25,212 shares in the last quarter. American Century Companies Inc. raised its stake in Virco Mfg. by 15.4% in the fourth 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 in the last quarter. Quantbot Technologies LP acquired a new position in Virco Mfg. in the fourth quarter valued at about $70,000. Finally, Koss Olinger Consulting LLC raised its stake in Virco Mfg. by 12.0% in the fourth quarter. Koss Olinger Consulting LLC now owns 55,208 shares of the company's stock valued at $566,000 after purchasing an additional 5,935 shares in the last quarter. Institutional investors and hedge funds own 30.97% of the company's stock.

Virco Mfg. Price Performance

VIRC stock traded down $0.11 during midday trading on Thursday, reaching $9.69. The company had a trading volume of 12,908 shares, compared to its average volume of 188,788. 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 has a market capitalization of $157.86 million, a price-to-earnings ratio of 6.33 and a beta of 0.41. Virco Mfg. Co. has a 1-year low of $8.52 and a 1-year high of $18.50. The stock has a 50 day moving average price of $10.26 and a 200-day moving average price of $12.10.

Virco Mfg. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Wednesday, March 26th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, March 26th. Virco Mfg.'s payout ratio is 6.45%.

Virco Mfg. declared that its Board of Directors has approved a stock buyback program on Tuesday, January 21st that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Virco Mfg. from a "buy" rating to a "hold" rating in a research note on Sunday.

Virco Mfg. 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.