Key Points
- Douglas Virtue, Virco's EVP, bought 11,678 shares on April 15 at an average price of $6.09 for $71,119, increasing his direct holding to 877,866 shares (a 1.35% rise) valued at about $5.35M.
- Virco reported Q1 EPS of ($0.45), missing estimates by $0.10 on revenue of $26.18M versus $29.61M expected; the company has a $95.98M market cap, low debt (D/E 0.03) and paid a $0.025 quarterly dividend (1.6% yield).
- Analyst and institutional sentiment is mixed: the consensus rating is "Hold" (one Strong Buy, one Hold, one Sell), institutional investors own ~30.97% of shares with recent stake increases by Minerva Advisors and AQR Capital.
Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) EVP Douglas Virtue bought 4,349 shares of the company's stock in a transaction on Tuesday, April 14th. The stock was bought at an average cost of $6.07 per share, with a total value of $26,398.43. Following the completion of the purchase, the executive vice president owned 866,188 shares of the company's stock, valued at approximately $5,257,761.16. The trade was a 0.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Virco Manufacturing Trading Up 0.5%
Shares of NASDAQ VIRC opened at $6.09 on Thursday. Virco Manufacturing Corporation has a 1-year low of $5.16 and a 1-year high of $10.62. The company has a market cap of $95.98 million, a PE ratio of 35.82 and a beta of 0.27. The company has a current ratio of 3.09, a quick ratio of 1.31 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $6.18 and a two-hundred day moving average of $6.61.
Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.10). Virco Manufacturing had a return on equity of 2.18% and a net margin of 1.29%.The company had revenue of $26.18 million during the quarter, compared to the consensus estimate of $29.61 million. As a group, equities analysts expect that Virco Manufacturing Corporation will post 1.54 earnings per share for the current fiscal year.
Virco Manufacturing Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 20th were paid a $0.025 dividend. The ex-dividend date of this dividend was Friday, March 20th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.6%. Virco Manufacturing's payout ratio is currently 58.82%.
Analyst Ratings Changes
VIRC has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of Virco Manufacturing from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 10th. Freedom Capital upgraded shares of Virco Manufacturing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold".
View Our Latest Stock Report on VIRC
Institutional Investors Weigh In On Virco Manufacturing
Institutional investors have recently modified their holdings of the business. Empowered Funds LLC grew its position in shares of Virco Manufacturing by 8.9% during the 4th quarter. Empowered Funds LLC now owns 37,957 shares of the company's stock worth $243,000 after buying an additional 3,095 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Virco Manufacturing during the 1st quarter worth approximately $186,000. Wells Fargo & Company MN grew its position in shares of Virco Manufacturing by 18.2% during the 4th quarter. Wells Fargo & Company MN now owns 28,777 shares of the company's stock worth $184,000 after buying an additional 4,427 shares during the period. Squarepoint Ops LLC acquired a new position in Virco Manufacturing during the third quarter valued at approximately $158,000. Finally, Barclays PLC grew its holdings in Virco Manufacturing by 16.4% during the fourth quarter. Barclays PLC now owns 17,665 shares of the company's stock valued at $113,000 after purchasing an additional 2,495 shares during the period. Institutional investors and hedge funds own 30.97% of the company's stock.
About Virco Manufacturing
(
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.
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