Minerva Advisors LLC Buys 85,696 Shares of Virco Manufacturing Corporation $VIRC

Minerva Advisors LLC grew its stake in shares of Virco Manufacturing Corporation (NASDAQ:VIRC) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,448,198 shares of the company’s stock after purchasing an additional 85,696 shares during the quarter. Virco Manufacturing accounts for about 6.2% of Minerva Advisors LLC’s holdings, making the stock its 5th biggest holding. Minerva Advisors LLC owned approximately 0.09% of Virco Manufacturing worth $9,254,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Park Edge Advisors LLC increased its holdings in shares of Virco Manufacturing by 12.9% during the fourth quarter. Park Edge Advisors LLC now owns 18,100 shares of the company’s stock valued at $116,000 after acquiring an additional 2,072 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Virco Manufacturing by 3.4% during the second quarter. Bridgeway Capital Management LLC now owns 87,221 shares of the company’s stock valued at $696,000 after acquiring an additional 2,882 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Virco Manufacturing by 16.2% during the fourth quarter. D.A. Davidson & CO. now owns 35,100 shares of the company’s stock valued at $224,000 after acquiring an additional 4,900 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Virco Manufacturing during the third quarter valued at about $41,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Virco Manufacturing by 9.5% during the first quarter. Goldman Sachs Group Inc. now owns 62,829 shares of the company’s stock valued at $594,000 after acquiring an additional 5,436 shares in the last quarter. Institutional investors and hedge funds own 30.97% of the company’s stock.

Wall Street Analysts Forecast Growth

VIRC has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 10th. Freedom Capital upgraded shares of Virco Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Virco Manufacturing presently has an average rating of “Hold”.

Insiders Place Their Bets

In other Virco Manufacturing news, EVP Douglas A. Virtue purchased 11,678 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were bought at an average price of $6.09 per share, for a total transaction of $71,119.02. Following the acquisition, the executive vice president owned 877,866 shares in the company, valued at $5,346,203.94. This represents a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have purchased 22,527 shares of company stock valued at $135,562. 16.94% of the stock is currently owned by corporate insiders.

Virco Manufacturing Price Performance

Shares of NASDAQ:VIRC opened at $5.98 on Tuesday. Virco Manufacturing Corporation has a twelve month low of $5.16 and a twelve month high of $9.09. The company’s 50 day moving average is $6.06 and its 200 day moving average is $6.39. The company has a current ratio of 3.09, a quick ratio of 1.31 and a debt-to-equity ratio of 0.03. The company has a market cap of $94.07 million, a PE ratio of 35.18 and a beta of 0.23.

Virco Manufacturing (NASDAQ:VIRC) last issued its quarterly earnings results on Wednesday, April 8th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.10). Virco Manufacturing had a return on equity of 2.18% and a net margin of 1.29%.The business had revenue of $26.18 million during the quarter, compared to analyst estimates of $29.61 million.

Virco Manufacturing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 20th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, March 20th. Virco Manufacturing’s dividend payout ratio is 58.82%.

About Virco Manufacturing

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.