Arkadios Wealth Advisors Takes Position in Virco Manufacturing Corporation (NASDAQ:VIRC)

Key Points

• Arkadios Wealth Advisors acquired 117,579 shares of Virco Manufacturing Corporation valued at approximately $1,112,000, marking a new position in the company during the first quarter.
• Virco Manufacturing recently reported a quarterly earnings per share (EPS) of ($0.01), beating analysts' expectations of ($0.13), with revenue of $33.75 million for the quarter.
• The company has announced a quarterly dividend of $0.025 per share, which amounts to an annualized dividend of $0.10 and a yield of 1.3%.

Arkadios Wealth Advisors purchased a new position in shares of Virco Manufacturing Corporation (NASDAQ:VIRC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 117,579 shares of the company's stock, valued at approximately $1,112,000. Arkadios Wealth Advisors owned approximately 0.73% of Virco Manufacturing as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the business. American Century Companies Inc. grew its position in shares of Virco Manufacturing by 15.4% during the fourth quarter. American Century Companies Inc. now owns 453,107 shares of the company's stock worth $4,644,000 after acquiring an additional 60,403 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Virco Manufacturing by 28.5% during the fourth quarter. JPMorgan Chase & Co. now owns 38,828 shares of the company's stock worth $398,000 after acquiring an additional 8,607 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Virco Manufacturing by 354.0% during the fourth quarter. Wells Fargo & Company MN now owns 22,470 shares of the company's stock worth $230,000 after acquiring an additional 17,521 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Virco Manufacturing by 118.1% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 26,699 shares of the company's stock worth $273,000 after acquiring an additional 14,455 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Virco Manufacturing by 15.1% during the fourth quarter. Barclays PLC now owns 16,633 shares of the company's stock worth $170,000 after acquiring an additional 2,188 shares during the last quarter. Institutional investors and hedge funds own 30.97% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Virco Manufacturing from a "buy" rating to a "hold" rating in a research report on Tuesday, April 22nd.

Virco Manufacturing Stock Performance

NASDAQ:VIRC traded up $0.07 during mid-day trading on Thursday, reaching $8.10. The stock had a trading volume of 42,388 shares, compared to its average volume of 90,967. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.65 and a current ratio of 3.02. The firm has a market capitalization of $127.56 million, a price-to-earnings ratio of 6.44 and a beta of 0.37. Virco Manufacturing Corporation has a twelve month low of $7.47 and a twelve month high of $18.50. The business has a 50 day simple moving average of $8.15 and a 200 day simple moving average of $9.29.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last announced its earnings results on Friday, June 6th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.12. Virco Manufacturing had a net margin of 7.99% and a return on equity of 17.61%. The firm had revenue of $33.75 million during the quarter, compared to the consensus estimate of $41.10 million. During the same quarter in the previous year, the company posted $0.13 EPS. On average, analysts expect that Virco Manufacturing Corporation will post 1.54 earnings per share for the current fiscal year.

Virco Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 20th were paid a $0.025 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $0.10 annualized dividend and a yield of 1.2%. Virco Manufacturing's payout ratio is presently 7.94%.

Virco Manufacturing 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.