Robert Virtue Acquires 5,000 Shares of Virco Manufacturing (NASDAQ:VIRC) Stock

Key Points

• CEO Robert Virtue purchased 5,000 shares of Virco Manufacturing stock at an average price of $6.96 per share, increasing his ownership by 1.02% to a total of 493,324 shares.
• Virco Manufacturing reported $0.70 EPS for the last quarter, missing analyst expectations and had a revenue of $92.09 million, below the anticipated $113.80 million.
• The company announced a quarterly dividend of $0.025 per share, yielding around 1.4% annually, with a payout ratio of 11.49%.

Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) CEO Robert Virtue bought 5,000 shares of Virco Manufacturing stock in a transaction dated Thursday, October 16th. The stock was purchased at an average price of $6.96 per share, with a total value of $34,800.00. Following the completion of the purchase, the chief executive officer owned 493,324 shares in the company, valued at $3,433,535.04. This trade represents a 1.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Virco Manufacturing Stock Up 0.3%

Shares of VIRC traded up $0.02 during trading hours on Thursday, hitting $7.00. The stock had a trading volume of 110,851 shares, compared to its average volume of 85,138. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.96 and a quick ratio of 1.38. The firm has a 50 day simple moving average of $7.96 and a 200-day simple moving average of $8.39. The firm has a market capitalization of $110.32 million, a P/E ratio of 8.05 and a beta of 0.36. Virco Manufacturing Corporation has a 1-year low of $6.65 and a 1-year high of $17.31.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last issued its earnings results on Friday, September 5th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.14). The firm had revenue of $92.09 million during the quarter, compared to analyst estimates of $113.80 million. Virco Manufacturing had a net margin of 5.74% and a return on equity of 12.04%. Sell-side analysts predict that Virco Manufacturing Corporation will post 1.54 EPS for the current fiscal year.

Virco Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 19th were paid a dividend of $0.025 per share. The ex-dividend date was Friday, September 19th. This represents a $0.10 dividend on an annualized basis and a yield of 1.4%. Virco Manufacturing's payout ratio is 11.49%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Virco Manufacturing in a research note on Wednesday, October 8th. Zacks Research upgraded Virco Manufacturing to a "hold" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $17.00.

Institutional Investors Weigh In On Virco Manufacturing

A number of hedge funds have recently modified their holdings of the stock. Minerva Advisors LLC raised its holdings in shares of Virco Manufacturing by 6.0% in the 2nd quarter. Minerva Advisors LLC now owns 1,283,516 shares of the company's stock worth $10,242,000 after purchasing an additional 73,061 shares during the period. American Century Companies Inc. raised its holdings in shares of Virco Manufacturing by 5.4% in the 2nd quarter. American Century Companies Inc. now owns 523,320 shares of the company's stock worth $4,176,000 after purchasing an additional 26,864 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Virco Manufacturing by 1.8% in the 2nd quarter. Acadian Asset Management LLC now owns 420,776 shares of the company's stock worth $3,355,000 after purchasing an additional 7,504 shares during the period. AQR Capital Management LLC raised its holdings in shares of Virco Manufacturing by 25.7% in the 1st quarter. AQR Capital Management LLC now owns 317,915 shares of the company's stock worth $3,007,000 after purchasing an additional 64,944 shares during the period. Finally, Bastion Asset Management Inc. raised its holdings in shares of Virco Manufacturing by 12.6% in the 2nd quarter. Bastion Asset Management Inc. now owns 290,885 shares of the company's stock worth $2,321,000 after purchasing an additional 32,656 shares during the period. Institutional investors own 30.97% of the company's stock.

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.

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