Virco Manufacturing (NASDAQ:VIRC) EVP Douglas Virtue Purchases 3,000 Shares

Virco Manufacturing Corporation (NASDAQ:VIRC) EVP Douglas Virtue acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were bought at an average price of $6.10 per share, for a total transaction of $18,300.00. Following the acquisition, the executive vice president owned 897,408 shares in the company, valued at approximately $5,474,188.80. This trade represents a 0.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Virco Manufacturing Stock Up 1.3%

Shares of VIRC opened at $6.18 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 2.53. The company has a 50-day simple moving average of $6.07 and a 200-day simple moving average of $6.10. Virco Manufacturing Corporation has a 52 week low of $5.16 and a 52 week high of $8.23. The firm has a market capitalization of $97.40 million, a P/E ratio of -38.62 and a beta of 0.20.

Virco Manufacturing (NASDAQ:VIRC) last released its earnings results on Friday, September 4th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.48. The business had revenue of $87.47 million for the quarter, compared to the consensus estimate of $72.10 million. Virco Manufacturing had a negative return on equity of 2.32% and a negative net margin of 1.31%.

Virco Manufacturing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.025 per share. The ex-dividend date is Friday, September 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.6%. Virco Manufacturing’s payout ratio is currently -62.50%.

Analysts Set New Price Targets

Several brokerages recently commented on VIRC. Freedom Capital cut Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Wall Street Zen raised shares of Virco Manufacturing from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Virco Manufacturing in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Institutional Trading of Virco Manufacturing

A number of large investors have recently bought and sold shares of VIRC. Bank of New York Mellon Corp acquired a new stake in shares of Virco Manufacturing during the 2nd quarter worth about $635,000. Minerva Advisors LLC lifted its holdings in Virco Manufacturing by 6.3% during the 4th quarter. Minerva Advisors LLC now owns 1,448,198 shares of the company’s stock valued at $9,254,000 after purchasing an additional 85,696 shares during the last quarter. BlackRock Inc. acquired a new position in Virco Manufacturing in the second quarter valued at about $860,000. IFP Advisors Inc boosted its position in Virco Manufacturing by 101.6% in the second quarter. IFP Advisors Inc now owns 5,857 shares of the company’s stock valued at $36,000 after buying an additional 2,952 shares in the last quarter. Finally, Susquehanna International Group LLP grew its stake in Virco Manufacturing by 564.4% during the second quarter. Susquehanna International Group LLP now owns 68,437 shares of the company’s stock worth $420,000 after buying an additional 58,137 shares during the last quarter. 30.97% of the stock is currently owned by 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.