Robert A. Virtue Buys 2,000 Shares of Virco Manufacturing Corporation (NASDAQ:VIRC) Stock

Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) CEO Robert A. Virtue acquired 2,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were bought at an average cost of $8.15 per share, with a total value of $16,300.00. Following the transaction, the chief executive officer directly owned 488,324 shares in the company, valued at $3,979,840.60. This trade represents a 0.41% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Virco Manufacturing Stock Down 3.0%

Shares of VIRC traded down $0.24 during midday trading on Friday, reaching $7.86. The stock had a trading volume of 30,422 shares, compared to its average volume of 146,172. Virco Manufacturing Corporation has a 1-year low of $7.79 and a 1-year high of $18.50. The company's fifty day simple moving average is $8.27 and its two-hundred day simple moving average is $9.46. The company has a market cap of $123.72 million, a price-to-earnings ratio of 6.24 and a beta of 0.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.02 and a quick ratio of 0.65.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last announced its quarterly earnings data on Friday, June 6th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.12. Virco Manufacturing had a net margin of 7.99% and a return on equity of 17.61%. The business had revenue of $33.75 million for the quarter, compared to analyst estimates of $41.10 million. During the same period last year, the business earned $0.13 EPS. Equities research analysts expect that Virco Manufacturing Corporation will post 1.54 earnings per share for the current year.

Virco Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 20th were paid a dividend of $0.025 per share. The ex-dividend date was Friday, June 20th. This represents a $0.10 annualized dividend and a yield of 1.27%. Virco Manufacturing's dividend payout ratio is currently 7.94%.

Institutional Investors Weigh In On Virco Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of VIRC. Bank of New York Mellon Corp increased its stake in Virco Manufacturing by 311.6% in the fourth quarter. Bank of New York Mellon Corp now owns 145,530 shares of the company's stock valued at $1,492,000 after purchasing an additional 110,173 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Virco Manufacturing by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 35,178 shares of the company's stock worth $361,000 after acquiring an additional 2,360 shares during the period. Koss Olinger Consulting LLC boosted its holdings in Virco Manufacturing by 12.0% during the fourth quarter. Koss Olinger Consulting LLC now owns 55,208 shares of the company's stock worth $566,000 after buying an additional 5,935 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Virco Manufacturing during the fourth quarter worth about $70,000. Finally, American Century Companies Inc. lifted its holdings in shares of Virco Manufacturing by 15.4% in the fourth 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 in the last quarter. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of 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.