Koss Olinger Consulting LLC Sells 4,587 Shares of Virco Manufacturing Corporation $VIRC

Koss Olinger Consulting LLC reduced its stake in shares of Virco Manufacturing Corporation (NASDAQ:VIRC) by 7.3% in the second quarter, Holdings Channel reports. The firm owned 58,229 shares of the company’s stock after selling 4,587 shares during the period. Koss Olinger Consulting LLC’s holdings in Virco Manufacturing were worth $465,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VIRC. State of Wyoming purchased a new stake in shares of Virco Manufacturing during the first quarter valued at $50,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Virco Manufacturing during the first quarter valued at $186,000. Strs Ohio purchased a new stake in shares of Virco Manufacturing during the first quarter valued at $211,000. Empowered Funds LLC purchased a new stake in shares of Virco Manufacturing during the first quarter valued at $258,000. Finally, Voya Investment Management LLC purchased a new stake in shares of Virco Manufacturing during the first quarter valued at $281,000. 30.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Douglas A. Virtue purchased 13,022 shares of the firm’s stock in a transaction on Friday, October 17th. The stock was acquired at an average cost of $7.34 per share, with a total value of $95,581.48. Following the completion of the transaction, the executive vice president owned 861,839 shares in the company, valued at $6,325,898.26. This represents a 1.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert A. Virtue purchased 5,000 shares of the firm’s stock in a transaction on Thursday, October 16th. The shares were purchased at an average cost of $6.96 per share, with a total value of $34,800.00. Following the completion of the transaction, the chief executive officer owned 493,324 shares of the company’s stock, valued at approximately $3,433,535.04. The trade was a 1.02% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 18.13% of the company’s stock.

Virco Manufacturing Stock Performance

VIRC stock opened at $7.40 on Tuesday. The firm has a market cap of $116.62 million, a price-to-earnings ratio of 8.51 and a beta of 0.36. The firm has a 50-day simple moving average of $7.82 and a two-hundred day simple moving average of $8.26. Virco Manufacturing Corporation has a one year low of $6.65 and a one year high of $17.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.38 and a current ratio of 2.96.

Virco Manufacturing (NASDAQ:VIRC) last released its quarterly earnings results on Friday, September 5th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.14). The firm had revenue of $92.09 million for the quarter, compared to analysts’ expectations of $113.80 million. Virco Manufacturing had a net margin of 5.74% and a return on equity of 12.04%. On average, equities analysts forecast that Virco Manufacturing Corporation will post 1.54 EPS for the current fiscal year.

Virco Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 19th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 19th. Virco Manufacturing’s dividend payout ratio is presently 11.49%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VIRC shares. Zacks Research raised shares of Virco Manufacturing to a “hold” rating in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Virco Manufacturing in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.00.

About Virco Manufacturing

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.