Virco Manufacturing Corporation $VIRC Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Virco Manufacturing Corporation by 9.6%, owning approximately 3.09% of the company, amounting to $4.7 million.
• Virco Manufacturing reported earnings of ($0.01) EPS for the latest quarter, exceeding expectations, but revenue was below analyst estimates at $33.75 million.
• The company recently declared a quarterly dividend of $0.025 per share, resulting in an annualized yield of 1.2% with a payout ratio of 7.94%.

American Century Companies Inc. raised its position in Virco Manufacturing Corporation (NASDAQ:VIRC - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 496,456 shares of the company's stock after buying an additional 43,349 shares during the period. American Century Companies Inc. owned about 3.09% of Virco Manufacturing worth $4,696,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VIRC. JPMorgan Chase & Co. boosted its holdings in Virco Manufacturing by 28.5% in the 4th quarter. JPMorgan Chase & Co. now owns 38,828 shares of the company's stock worth $398,000 after buying an additional 8,607 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Virco Manufacturing by 354.0% in the 4th quarter. Wells Fargo & Company MN now owns 22,470 shares of the company's stock worth $230,000 after buying an additional 17,521 shares during the last quarter. Barclays PLC boosted its holdings in Virco Manufacturing by 15.1% in the 4th quarter. Barclays PLC now owns 16,633 shares of the company's stock worth $170,000 after buying an additional 2,188 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Virco Manufacturing by 9.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 684,378 shares of the company's stock worth $7,015,000 after buying an additional 58,753 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in Virco Manufacturing in the 4th quarter worth about $113,000. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Virco Manufacturing to a "hold" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Virco Manufacturing Price Performance

Shares of Virco Manufacturing stock traded down $0.11 on Tuesday, hitting $8.50. 45,860 shares of the company were exchanged, compared to its average volume of 86,747. The stock has a market capitalization of $133.79 million, a price-to-earnings ratio of 6.75 and a beta of 0.40. The company has a 50-day moving average price of $8.18 and a 200 day moving average price of $8.91. Virco Manufacturing Corporation has a 1-year low of $7.47 and a 1-year high of $17.31. The company has a quick ratio of 0.65, a current ratio of 3.02 and a debt-to-equity ratio of 0.04.

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

Virco Manufacturing 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.