Key Points
- CEO Robert Virtue bought 2,700 shares on April 14 at $6.22 each for $16,794, increasing his holdings to 501,824 shares (a 0.54% bump).
- Virco missed quarterly expectations, reporting ($0.45) EPS vs. a ($0.35) consensus and revenue of $26.18M vs. $29.61M expected; the stock trades around $6 with a 52-week range of $5.16–$10.62.
- The company pays a quarterly dividend of $0.025 (annualized $0.10, ~1.7% yield), faces mixed analyst ratings (consensus: Hold), and institutions own about 30.97% of the stock.
Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) CEO Robert Virtue purchased 2,700 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The stock was acquired at an average cost of $6.22 per share, for a total transaction of $16,794.00. Following the transaction, the chief executive officer owned 501,824 shares in the company, valued at $3,121,345.28. This represents a 0.54% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Virco Manufacturing Price Performance
Shares of NASDAQ VIRC opened at $6.06 on Wednesday. Virco Manufacturing Corporation has a fifty-two week low of $5.16 and a fifty-two week high of $10.62. The stock has a market cap of $95.51 million, a price-to-earnings ratio of 35.65 and a beta of 0.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.31 and a current ratio of 3.09. The firm's 50-day simple moving average is $6.19 and its 200 day simple moving average is $6.61.
Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 8th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.10). Virco Manufacturing had a net margin of 1.29% and a return on equity of 2.18%. The business had revenue of $26.18 million during the quarter, compared to the consensus estimate of $29.61 million. As a group, research analysts anticipate that Virco Manufacturing Corporation will post 1.54 earnings per share for the current fiscal year.
Virco Manufacturing Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 20th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $0.10 annualized dividend and a dividend yield of 1.7%. Virco Manufacturing's dividend payout ratio (DPR) is currently 58.82%.
Institutional Investors Weigh In On Virco Manufacturing
Several large investors have recently modified their holdings of the stock. Minerva Advisors LLC increased its stake in shares of Virco Manufacturing by 6.3% during the 4th quarter. Minerva Advisors LLC now owns 1,448,198 shares of the company's stock worth $9,254,000 after purchasing an additional 85,696 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Virco Manufacturing by 25.7% during 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 last quarter. Geode Capital Management LLC increased its stake in shares of Virco Manufacturing by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 265,554 shares of the company's stock worth $1,697,000 after purchasing an additional 4,355 shares during the last quarter. North Star Investment Management Corp. increased its stake in shares of Virco Manufacturing by 13.2% during the 3rd quarter. North Star Investment Management Corp. now owns 146,175 shares of the company's stock worth $1,133,000 after purchasing an additional 17,000 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Virco Manufacturing by 3.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 95,057 shares of the company's stock worth $607,000 after purchasing an additional 3,095 shares during the last quarter. Hedge funds and other institutional investors own 30.97% of the company's stock.
Analyst Ratings Changes
Several equities analysts have commented on VIRC shares. Weiss Ratings cut shares of Virco Manufacturing from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday. Freedom Capital raised shares of Virco Manufacturing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Virco Manufacturing has a consensus rating of "Hold".
View Our Latest Analysis on VIRC
Virco Manufacturing Company Profile
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Get Free Report)
Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.
The company's product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.
Further Reading
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