Dimensional Fund Advisors LP Grows Position in Virco Mfg. Co. (NASDAQ:VIRC)

Dimensional Fund Advisors LP raised its position in shares of Virco Mfg. Co. (NASDAQ:VIRC - Free Report) by 9.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 684,378 shares of the company's stock after acquiring an additional 58,753 shares during the period. Dimensional Fund Advisors LP owned approximately 4.20% of Virco Mfg. worth $7,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Minerva Advisors LLC boosted its stake in shares of Virco Mfg. by 5.5% in the fourth quarter. Minerva Advisors LLC now owns 1,162,589 shares of the company's stock worth $11,870,000 after acquiring an additional 60,900 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Virco Mfg. by 15.4% during the 4th quarter. American Century Companies Inc. now owns 453,107 shares of the company's stock worth $4,644,000 after buying an additional 60,403 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Virco Mfg. by 311.6% during the 4th quarter. Bank of New York Mellon Corp now owns 145,530 shares of the company's stock valued at $1,492,000 after buying an additional 110,173 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Virco Mfg. by 42.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 104,235 shares of the company's stock worth $1,068,000 after purchasing an additional 30,880 shares during the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of Virco Mfg. by 34.5% in the 4th quarter. WINTON GROUP Ltd now owns 98,360 shares of the company's stock worth $1,008,000 after buying an additional 25,212 shares during the period. Institutional investors own 30.97% of the company's stock.

Virco Mfg. Price Performance

Shares of NASDAQ:VIRC traded down $0.01 during trading on Tuesday, reaching $9.08. The stock had a trading volume of 111,227 shares, compared to its average volume of 186,734. The business's 50-day moving average price is $9.52 and its 200 day moving average price is $11.33. The stock has a market capitalization of $146.07 million, a PE ratio of 5.86 and a beta of 0.37. Virco Mfg. Co. has a 52 week low of $8.13 and a 52 week high of $18.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.88 and a quick ratio of 1.70.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last released its earnings results on Monday, April 14th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.20). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. The firm had revenue of $28.47 million during the quarter, compared to the consensus estimate of $43.00 million. As a group, equities analysts predict that Virco Mfg. Co. will post 1.54 earnings per share for the current year.

Virco Mfg. declared that its board has approved a share buyback program on Tuesday, January 21st that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Virco Mfg. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Wednesday, March 26th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Wednesday, March 26th. Virco Mfg.'s payout ratio is 7.46%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Virco Mfg. from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd.

Virco Mfg. Company Profile

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.