D.A. Davidson & CO. Sells 315,084 Shares of Virco Mfg. Co. (NASDAQ:VIRC)

D.A. Davidson & CO. cut its stake in Virco Mfg. Co. (NASDAQ:VIRC - Free Report) by 37.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 535,269 shares of the company's stock after selling 315,084 shares during the period. D.A. Davidson & CO. owned approximately 3.27% of Virco Mfg. worth $6,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC purchased a new stake in shares of Virco Mfg. during the 3rd quarter valued at $74,000. Russell Investments Group Ltd. bought a new stake in Virco Mfg. during the fourth quarter worth approximately $160,000. Merit Financial Group LLC lifted its position in shares of Virco Mfg. by 27.7% in the 3rd quarter. Merit Financial Group LLC now owns 13,176 shares of the company's stock valued at $105,000 after acquiring an additional 2,859 shares in the last quarter. Heron Bay Capital Management purchased a new stake in Virco Mfg. in the 4th quarter worth approximately $177,000. Finally, Bailard Inc. bought a new position in shares of Virco Mfg. during the 4th quarter valued at $190,000. 30.97% of the stock is currently owned by hedge funds and other institutional investors.

Virco Mfg. Price Performance

Shares of Virco Mfg. stock traded down $0.61 during midday trading on Wednesday, hitting $12.24. 94,516 shares of the company traded hands, compared to its average volume of 183,986. The stock has a market cap of $200.12 million, a price-to-earnings ratio of 9.13 and a beta of 0.69. Virco Mfg. Co. has a 12 month low of $3.70 and a 12 month high of $13.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 2.31. The firm's fifty day moving average price is $11.20 and its 200-day moving average price is $10.26.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last released its quarterly earnings data on Friday, April 12th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Virco Mfg. had a net margin of 8.14% and a return on equity of 26.24%. The business had revenue of $42.60 million for the quarter, compared to analysts' expectations of $40.70 million. As a group, sell-side analysts forecast that Virco Mfg. Co. will post 1.6 earnings per share for the current year.

Virco Mfg. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Thursday, March 7th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.65%. Virco Mfg.'s dividend payout ratio is currently 5.97%.

Analyst Ratings Changes

Separately, TheStreet upgraded shares of Virco Mfg. from a "c" rating to a "b" rating in a research report on Wednesday, February 14th.

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.