Ritholtz Wealth Management Cuts Stock Holdings in Virco Manufacturing Corporation (NASDAQ:VIRC)

Ritholtz Wealth Management reduced its holdings in shares of Virco Manufacturing Corporation (NASDAQ:VIRC - Free Report) by 39.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,683 shares of the company's stock after selling 32,182 shares during the quarter. Ritholtz Wealth Management owned approximately 0.30% of Virco Manufacturing worth $461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Minerva Advisors LLC boosted its stake in shares of Virco Manufacturing by 5.5% during the 4th quarter. Minerva Advisors LLC now owns 1,162,589 shares of the company's stock worth $11,870,000 after acquiring an additional 60,900 shares during the period. Dimensional Fund Advisors LP boosted its stake in Virco Manufacturing by 9.4% in 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 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 period. Millennium Management LLC grew its holdings in shares of Virco Manufacturing by 7.3% during the 4th quarter. Millennium Management LLC now owns 366,968 shares of the company's stock worth $3,761,000 after purchasing an additional 25,032 shares in the last quarter. Finally, Bastion Asset Management Inc. acquired a new stake in shares of Virco Manufacturing during the 4th quarter worth $1,603,000. 30.97% of the stock is currently owned by institutional investors.

Virco Manufacturing Trading Up 8.2%

Virco Manufacturing stock traded up $0.65 during trading hours on Monday, hitting $8.59. The stock had a trading volume of 122,318 shares, compared to its average volume of 167,702. 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 cap of $135.21 million, a price-to-earnings ratio of 6.82 and a beta of 0.34. Virco Manufacturing Corporation has a one year low of $7.79 and a one year high of $18.50. The business's 50 day simple moving average is $8.70 and its 200-day simple moving average is $9.83.

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

Virco Manufacturing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.16%. Virco Manufacturing's dividend payout ratio (DPR) is 7.94%.

Wall Street Analysts Forecast Growth

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

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.