Focus Partners Wealth Takes $562,000 Position in Virco Mfg. Co. (NASDAQ:VIRC)

Focus Partners Wealth acquired a new stake in Virco Mfg. Co. (NASDAQ:VIRC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 54,806 shares of the company's stock, valued at approximately $562,000. Focus Partners Wealth owned about 0.34% of Virco Mfg. as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of VIRC. Bastion Asset Management Inc. bought a new stake in shares of Virco Mfg. in the 4th quarter valued at $1,603,000. Bank of New York Mellon Corp boosted its stake in shares of Virco Mfg. by 311.6% in 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 purchasing an additional 110,173 shares during the last quarter. Quartz Partners LLC bought a new stake in shares of Virco Mfg. in the 4th quarter valued at $883,000. Minerva Advisors LLC boosted its stake in shares of Virco Mfg. by 5.5% in the 4th quarter. Minerva Advisors LLC now owns 1,162,589 shares of the company's stock valued at $11,870,000 after purchasing an additional 60,900 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Virco Mfg. by 15.4% in the 4th quarter. American Century Companies Inc. now owns 453,107 shares of the company's stock valued at $4,644,000 after purchasing an additional 60,403 shares during the last quarter. 30.97% of the stock is owned by institutional investors.

Virco Mfg. Stock Down 1.2%

Shares of Virco Mfg. stock traded down $0.10 during trading on Friday, reaching $8.20. 32,902 shares of the company traded hands, compared to its average volume of 184,223. 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. Co. has a 1-year low of $8.11 and a 1-year high of $18.50. The company has a 50 day moving average price of $9.28 and a 200-day moving average price of $10.97. The firm has a market capitalization of $131.91 million, a PE ratio of 5.29 and a beta of 0.37.

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

Virco Mfg. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Wednesday, March 26th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.22%. Virco Mfg.'s payout ratio is presently 7.46%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Virco Mfg. from a "buy" rating to a "hold" rating in a research report 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.