Virco Manufacturing Corporation (NASDAQ:VIRC) Shares Purchased by Minerva Advisors LLC

Key Points

• Minerva Advisors LLC increased its stake in Virco Manufacturing Corporation by 4.1%, now holding 1,210,455 shares, which constitutes approximately 7.1% of its portfolio.
• Virco Manufacturing's stock is currently valued at $7.74, down 4.4%, with a market capitalization of $121.83 million.
• The company announced a quarterly dividend of $0.025, translating to a 1.3% dividend yield and a dividend payout ratio of 7.94%.

Minerva Advisors LLC lifted its position in shares of Virco Manufacturing Corporation (NASDAQ:VIRC - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,210,455 shares of the company's stock after purchasing an additional 47,866 shares during the period. Virco Manufacturing comprises 7.1% of Minerva Advisors LLC's investment portfolio, making the stock its 5th largest holding. Minerva Advisors LLC owned approximately 7.52% of Virco Manufacturing worth $11,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Virco Manufacturing by 9.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 684,378 shares of the company's stock valued at $7,015,000 after purchasing an additional 58,753 shares during the period. American Century Companies Inc. boosted its stake in shares of Virco Manufacturing 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. Millennium Management LLC increased its position in shares of Virco Manufacturing by 7.3% during the fourth quarter. Millennium Management LLC now owns 366,968 shares of the company's stock worth $3,761,000 after buying an additional 25,032 shares during the period. Bastion Asset Management Inc. increased its position in shares of Virco Manufacturing by 65.1% during the first quarter. Bastion Asset Management Inc. now owns 258,229 shares of the company's stock worth $2,443,000 after buying an additional 101,796 shares during the period. Finally, Arkadios Wealth Advisors bought a new position in Virco Manufacturing during the first quarter worth $1,112,000. Institutional investors and hedge funds own 30.97% of the company's stock.

Wall Street Analysts Forecast Growth

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

Virco Manufacturing Trading Up 0.9%

NASDAQ VIRC traded up $0.07 during trading hours on Friday, hitting $7.81. 77,901 shares of the company's stock were exchanged, compared to its average volume of 72,987. The firm has a market cap of $122.93 million, a price-to-earnings ratio of 6.20 and a beta of 0.37. The stock has a 50-day simple moving average of $8.15 and a 200 day simple moving average of $9.34. The company has a current ratio of 3.02, a quick ratio of 0.65 and a debt-to-equity ratio of 0.04. Virco Manufacturing Corporation has a 1-year low of $7.47 and a 1-year high of $18.50.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last announced its quarterly earnings data on Friday, June 6th. The company reported ($0.01) EPS for the quarter, topping 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 company had revenue of $33.75 million during the quarter, compared to the consensus estimate of $41.10 million. During the same quarter last year, the firm posted $0.13 EPS. On average, equities analysts forecast that Virco Manufacturing Corporation will post 1.54 EPS for the current fiscal year.

Virco Manufacturing Dividend Announcement

The business 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. The ex-dividend date was Friday, June 20th. This represents a $0.10 annualized dividend and a dividend yield of 1.3%. Virco Manufacturing's dividend payout ratio is currently 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.