Minerva Advisors LLC Has $11.45 Million Stock Holdings in Virco Manufacturing Corporation (NASDAQ:VIRC)

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 raised its stake 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 filing with the SEC. The firm owned 1,210,455 shares of the company's stock after purchasing an additional 47,866 shares during the quarter. Virco Manufacturing accounts for about 7.1% of Minerva Advisors LLC's investment portfolio, making the stock its 5th biggest position. Minerva Advisors LLC owned about 7.52% of Virco Manufacturing worth $11,451,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of VIRC. Two Sigma Investments LP bought a new position in Virco Manufacturing during the fourth quarter worth about $417,000. Bastion Asset Management Inc. increased its holdings in 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 last quarter. Two Sigma Advisers LP bought a new position in Virco Manufacturing during the fourth quarter worth about $138,000. Focus Partners Wealth acquired a new position in shares of Virco Manufacturing in the fourth quarter valued at approximately $562,000. Finally, BNP Paribas Financial Markets increased its position in Virco Manufacturing by 23.4% during the fourth quarter. BNP Paribas Financial Markets now owns 19,272 shares of the company's stock worth $198,000 after acquiring an additional 3,653 shares during the period. Institutional investors 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 report on Tuesday, April 22nd.

Virco Manufacturing Stock Up 2.6%

NASDAQ VIRC traded up $0.21 on Monday, reaching $8.02. The company had a trading volume of 16,418 shares, compared to its average volume of 91,341. Virco Manufacturing Corporation has a 52-week low of $7.47 and a 52-week high of $18.50. The company has a quick ratio of 0.65, a current ratio of 3.02 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $126.16 million, a P/E ratio of 6.36 and a beta of 0.37. The company's fifty day moving average is $8.15 and its 200 day moving average is $9.32.

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

Virco Manufacturing Announces Dividend

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

About Virco Manufacturing

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.