Virco Manufacturing Corporation (NASDAQ:VIRC) Announces Quarterly Dividend of $0.03

Virco Manufacturing Corporation (NASDAQ:VIRC) declared a quarterly dividend on Tuesday, June 2nd. Investors of record on Friday, June 19th will be paid a dividend of 0.025 per share on Friday, July 10th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, June 18th.

Virco Manufacturing has a dividend payout ratio of 11.5% meaning its dividend is sufficiently covered by earnings.

Virco Manufacturing Stock Performance

Shares of Virco Manufacturing stock opened at $5.44 on Thursday. The stock has a market cap of $85.57 million, a price-to-earnings ratio of 32.00 and a beta of 0.21. The firm’s 50-day moving average is $6.04 and its 200 day moving average is $6.33. Virco Manufacturing has a 1 year low of $5.16 and a 1 year high of $9.09. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.09 and a quick ratio of 1.31.

Virco Manufacturing (NASDAQ:VIRC) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). The firm had revenue of $30.69 million during the quarter, compared to the consensus estimate of $27.20 million. Virco Manufacturing had a return on equity of 2.18% and a net margin of 1.29%.

Insider Transactions at Virco Manufacturing

In other news, EVP Douglas A. Virtue bought 11,678 shares of the stock in a transaction dated Wednesday, April 15th. The stock was purchased at an average cost of $6.09 per share, for a total transaction of $71,119.02. Following the transaction, the executive vice president owned 877,866 shares of the company’s stock, valued at $5,346,203.94. The trade was a 1.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have purchased 22,527 shares of company stock worth $135,562. Company insiders own 16.94% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Minerva Advisors LLC boosted its stake in Virco Manufacturing by 6.3% during the fourth quarter. Minerva Advisors LLC now owns 1,448,198 shares of the company’s stock worth $9,254,000 after buying an additional 85,696 shares during the period. Wells Fargo & Company MN lifted its position in shares of Virco Manufacturing by 18.2% during the fourth quarter. Wells Fargo & Company MN now owns 28,777 shares of the company’s stock worth $184,000 after purchasing an additional 4,427 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Virco Manufacturing during the third quarter worth $158,000. Barclays PLC lifted its position in shares of Virco Manufacturing by 16.4% during the fourth quarter. Barclays PLC now owns 17,665 shares of the company’s stock worth $113,000 after purchasing an additional 2,495 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Virco Manufacturing during the third quarter worth $41,000. 30.97% of the stock is owned by hedge funds and other institutional investors.

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.