Virco Manufacturing (NASDAQ:VIRC) CEO Robert Virtue Acquires 2,500 Shares

Virco Manufacturing Corporation (NASDAQ:VIRC) CEO Robert Virtue purchased 2,500 shares of the stock in a transaction on Tuesday, January 13th. The stock was acquired at an average cost of $6.32 per share, for a total transaction of $15,800.00. Following the acquisition, the chief executive officer directly owned 495,824 shares in the company, valued at approximately $3,133,607.68. This trade represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Virco Manufacturing Price Performance

NASDAQ:VIRC opened at $6.32 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.80 and a current ratio of 3.98. The company has a 50-day moving average of $6.73 and a 200-day moving average of $7.48. Virco Manufacturing Corporation has a 52 week low of $6.01 and a 52 week high of $12.09. The company has a market capitalization of $99.61 million, a price-to-earnings ratio of 23.41 and a beta of 0.22.

Virco Manufacturing (NASDAQ:VIRC) last posted its quarterly earnings results on Monday, December 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.55). The business had revenue of $47.64 million during the quarter, compared to analyst estimates of $85.90 million. Virco Manufacturing had a return on equity of 3.33% and a net margin of 1.91%. As a group, equities research analysts anticipate that Virco Manufacturing Corporation will post 1.54 earnings per share for the current fiscal year.

Virco Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, December 19th. Virco Manufacturing’s dividend payout ratio (DPR) is 37.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VIRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Virco Manufacturing during the 3rd quarter worth about $41,000. Two Sigma Investments LP grew its stake in shares of Virco Manufacturing by 41.4% during the third quarter. Two Sigma Investments LP now owns 29,481 shares of the company’s stock valued at $228,000 after purchasing an additional 8,628 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Virco Manufacturing by 5.4% in the third quarter. Bridgeway Capital Management LLC now owns 91,962 shares of the company’s stock valued at $713,000 after purchasing an additional 4,741 shares in the last quarter. Squarepoint Ops LLC bought a new position in Virco Manufacturing in the 3rd quarter worth approximately $158,000. Finally, Minerva Advisors LLC lifted its holdings in Virco Manufacturing by 6.2% during the 3rd quarter. Minerva Advisors LLC now owns 1,362,502 shares of the company’s stock worth $10,559,000 after buying an additional 78,986 shares in the last quarter. 30.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on VIRC shares. Weiss Ratings restated a “hold (c-)” rating on shares of Virco Manufacturing in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Virco Manufacturing from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.