Renaissance Technologies LLC Has $2.41 Million Stock Holdings in Virco Mfg. Co. (NASDAQ:VIRC)

Renaissance Technologies LLC cut its stake in shares of Virco Mfg. Co. (NASDAQ:VIRC - Free Report) by 24.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 234,911 shares of the company's stock after selling 75,619 shares during the period. Renaissance Technologies LLC owned 1.44% of Virco Mfg. worth $2,408,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc acquired a new stake in shares of Virco Mfg. in the fourth quarter valued at approximately $30,000. Quantbot Technologies LP acquired a new position in Virco Mfg. during the fourth quarter worth about $70,000. Meeder Asset Management Inc. bought a new position in Virco Mfg. in the 4th quarter valued at approximately $72,000. Principal Financial Group Inc. acquired a new stake in shares of Virco Mfg. during the 3rd quarter valued at $194,000. Finally, Barclays PLC grew its position in Virco Mfg. by 25.8% during the 3rd quarter. Barclays PLC now owns 14,445 shares of the company's stock worth $200,000 after acquiring an additional 2,961 shares during the last quarter. 30.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Virco Mfg. from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd.

Virco Mfg. Trading Down 0.8 %

NASDAQ:VIRC traded down $0.08 during trading hours on Thursday, hitting $9.12. 21,574 shares of the company were exchanged, compared to its average volume of 101,263. The company has a fifty day simple moving average of $9.81 and a 200 day simple moving average of $11.70. Virco Mfg. Co. has a one year low of $8.52 and a one year high of $18.50. The stock has a market capitalization of $146.63 million, a price-to-earnings ratio of 5.88 and a beta of 0.41. The company has a current ratio of 2.88, a quick ratio of 1.70 and a debt-to-equity ratio of 0.03.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last announced its earnings results on Monday, April 14th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.20). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. The company had revenue of $28.47 million during the quarter, compared to the consensus estimate of $43.00 million. Sell-side analysts expect that Virco Mfg. Co. will post 1.54 EPS for the current fiscal year.

Virco Mfg. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Wednesday, March 26th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Wednesday, March 26th. Virco Mfg.'s dividend payout ratio is presently 7.46%.

Virco Mfg. announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 21st that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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.