Virco Manufacturing (NASDAQ:VIRC) EVP Douglas Virtue Buys 8,083 Shares of Stock

Virco Manufacturing Corporation (NASDAQ:VIRC) EVP Douglas Virtue purchased 8,083 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was bought at an average price of $6.00 per share, for a total transaction of $48,498.00. Following the purchase, the executive vice president owned 888,663 shares in the company, valued at approximately $5,331,978. This represents a 0.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Virco Manufacturing Trading Up 0.7%

Shares of Virco Manufacturing stock opened at $6.10 on Friday. The firm has a market cap of $95.95 million, a price-to-earnings ratio of -101.65 and a beta of 0.21. The business has a 50-day moving average price of $6.11 and a 200-day moving average price of $6.22. The company has a quick ratio of 0.90, a current ratio of 2.71 and a debt-to-equity ratio of 0.03. Virco Manufacturing Corporation has a twelve month low of $5.16 and a twelve month high of $9.09.

Virco Manufacturing (NASDAQ:VIRC) last posted its earnings results on Wednesday, June 3rd. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). Virco Manufacturing had a negative return on equity of 0.16% and a negative net margin of 0.48%.The firm had revenue of $30.69 million during the quarter, compared to analysts’ expectations of $27.20 million.

Virco Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 19th will be issued 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 of this dividend is Thursday, June 18th. Virco Manufacturing’s dividend payout ratio is -166.67%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Virco Manufacturing in a report on Wednesday. Freedom Capital downgraded shares of Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce”.

Institutional Investors Weigh In On Virco Manufacturing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Minerva Advisors LLC boosted its holdings in shares of Virco Manufacturing by 6.3% in the 4th quarter. Minerva Advisors LLC now owns 1,448,198 shares of the company’s stock worth $9,254,000 after purchasing an additional 85,696 shares during the period. Goldman Sachs Group Inc. raised its holdings in Virco Manufacturing by 102.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 51,862 shares of the company’s stock valued at $331,000 after buying an additional 26,228 shares during the period. Empowered Funds LLC purchased a new stake in Virco Manufacturing during the 1st quarter valued at $258,000. Charles Schwab Investment Management Inc. lifted its position in Virco Manufacturing by 16.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 40,404 shares of the company’s stock worth $258,000 after buying an additional 5,741 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in Virco Manufacturing by 41.4% in the third quarter. Two Sigma Investments LP now owns 29,481 shares of the company’s stock worth $228,000 after buying an additional 8,628 shares during the last quarter. 30.97% of the stock is currently owned by hedge funds and other institutional investors.

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.