Arkadios Wealth Advisors Buys New 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 its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Inspire Advisors LLC increased its stake in shares of Virco Manufacturing by 14.7% during the 1st quarter. Inspire Advisors LLC now owns 47,625 shares of the company's stock worth $451,000 after purchasing an additional 6,088 shares during the last quarter. Bastion Asset Management Inc. boosted its position in shares of Virco Manufacturing by 65.1% in the first quarter. Bastion Asset Management Inc. now owns 258,229 shares of the company's stock valued at $2,443,000 after acquiring an additional 101,796 shares during the period. North Star Investment Management Corp. boosted its position in shares of Virco Manufacturing by 1.1% in the first quarter. North Star Investment Management Corp. now owns 113,175 shares of the company's stock valued at $1,071,000 after acquiring an additional 1,200 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Virco Manufacturing by 2.3% during the first quarter. SummerHaven Investment Management LLC now owns 58,637 shares of the company's stock worth $555,000 after purchasing an additional 1,319 shares during the period. Finally, PharVision Advisers LLC bought a new position in Virco Manufacturing during the 4th quarter worth $338,000. 30.97% of the stock is owned by institutional investors and hedge funds.

Virco Manufacturing Stock Up 0.9%

NASDAQ:VIRC opened at $7.81 on Friday. The company has a market cap of $122.93 million, a PE ratio of 6.20 and a beta of 0.37. Virco Manufacturing Corporation has a one year low of $7.47 and a one year high of $18.50. The firm's 50 day simple moving average is $8.15 and its 200 day simple moving average is $9.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.02 and a quick ratio of 0.65.

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

Virco Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 20th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, June 20th. Virco Manufacturing's dividend payout ratio (DPR) is currently 7.94%.

Wall Street Analyst Weigh In

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

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.

Want to see what other hedge funds are holding VIRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Virco Manufacturing Corporation (NASDAQ:VIRC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.