Focus Partners Wealth Takes Position in Virco Mfg. Co. (NASDAQ:VIRC)

Focus Partners Wealth purchased a new stake in shares of Virco Mfg. Co. (NASDAQ:VIRC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 54,806 shares of the company's stock, valued at approximately $562,000. Focus Partners Wealth owned approximately 0.34% of Virco Mfg. at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of VIRC. IFP Advisors Inc bought a new position in shares of Virco Mfg. during the 4th quarter valued at $30,000. Quantbot Technologies LP bought a new position in shares of Virco Mfg. during the 4th quarter valued at $70,000. Meeder Asset Management Inc. bought a new position in shares of Virco Mfg. during the 4th quarter valued at $72,000. Quarry LP raised its holdings in shares of Virco Mfg. by 810.2% during the 4th quarter. Quarry LP now owns 8,802 shares of the company's stock valued at $90,000 after purchasing an additional 7,835 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Virco Mfg. during the 4th quarter valued at $113,000. Institutional investors own 30.97% of the company's stock.

Analyst Ratings Changes

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

Virco Mfg. Stock Performance

Shares of VIRC opened at $8.61 on Tuesday. The company has a market capitalization of $138.51 million, a PE ratio of 5.55 and a beta of 0.37. Virco Mfg. Co. has a one year low of $8.13 and a one year 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. The company's fifty day moving average price is $9.40 and its 200 day moving average price is $11.16.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last announced 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). The firm had revenue of $28.47 million during the quarter, compared to the consensus estimate of $43.00 million. Virco Mfg. had a return on equity of 24.63% and a net margin of 8.93%. As a group, analysts expect that Virco Mfg. Co. will post 1.54 earnings per share for the current year.

Virco Mfg. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Wednesday, March 26th were issued a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $0.10 annualized dividend and a yield of 1.16%. Virco Mfg.'s dividend payout ratio (DPR) is presently 7.46%.

Virco Mfg. declared that its Board of Directors has approved a stock repurchase program on Tuesday, January 21st that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Virco Mfg. 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.

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.