Virco Manufacturing (NASDAQ:VIRC) EVP Douglas Virtue Acquires 13,022 Shares

Key Points

• Douglas Virtue, the EVP of Virco Manufacturing, acquired 13,022 shares at an average price of $7.34, totaling approximately $95,581, which increased his stake in the company by 1.53% to 861,839 shares.
• Virco Manufacturing reported a loss of $0.14 per share in its latest earnings, falling short of analyst expectations of $0.84, with revenue of $92.09 million compared to projected $113.80 million.
• The company announced a $0.025 quarterly dividend, representing a 1.4% yield, with a payout ratio of 11.49%.

Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) EVP Douglas Virtue purchased 13,022 shares of the firm's stock in a transaction on Friday, October 17th. The stock was acquired at an average price of $7.34 per share, with a total value of $95,581.48. Following the completion of the transaction, the executive vice president owned 861,839 shares in the company, valued at approximately $6,325,898.26. This trade represents a 1.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Virco Manufacturing Trading Up 4.3%

Shares of NASDAQ VIRC traded up $0.30 during trading on Friday, reaching $7.30. The company had a trading volume of 107,385 shares, compared to its average volume of 85,256. The stock has a market cap of $115.05 million, a P/E ratio of 8.39 and a beta of 0.36. The company's fifty day moving average price is $7.93 and its 200-day moving average price is $8.37. The company has a quick ratio of 1.38, a current ratio of 2.96 and a debt-to-equity ratio of 0.03. Virco Manufacturing Corporation has a 12 month low of $6.65 and a 12 month high of $17.31.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last released its earnings results on Friday, September 5th. The company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.84 by ($0.14). The firm had revenue of $92.09 million for 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%. As a group, research analysts expect that Virco Manufacturing Corporation will post 1.54 earnings per share for the current year.

Virco Manufacturing Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently commented on VIRC shares. Zacks Research upgraded Virco Manufacturing to a "hold" rating in a research note on Friday, August 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Virco Manufacturing in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $17.00.

Institutional Investors Weigh In On Virco Manufacturing

Several large investors have recently modified their holdings of VIRC. Arkadios Wealth Advisors bought a new position in Virco Manufacturing during the first quarter valued at $1,112,000. Nuveen LLC purchased a new position in shares of Virco Manufacturing during the 1st quarter valued at $1,111,000. Bastion Asset Management Inc. lifted its position in shares of Virco Manufacturing by 65.1% during the 1st quarter. Bastion Asset Management Inc. now owns 258,229 shares of the company's stock valued at $2,443,000 after buying an additional 101,796 shares during the last quarter. Minerva Advisors LLC grew its stake in shares of Virco Manufacturing by 6.0% during the 2nd quarter. Minerva Advisors LLC now owns 1,283,516 shares of the company's stock worth $10,242,000 after acquiring an additional 73,061 shares during the period. Finally, AQR Capital Management LLC raised its stake in Virco Manufacturing by 25.7% in the 1st quarter. AQR Capital Management LLC now owns 317,915 shares of the company's stock valued at $3,007,000 after acquiring an additional 64,944 shares during the period. Hedge funds and other institutional investors own 30.97% of the company's stock.

Virco Manufacturing 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.

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