LSV Asset Management Has $1.21 Million Holdings in Virco Mfg. Co. (NASDAQ:VIRC)

LSV Asset Management grew its stake in Virco Mfg. Co. (NASDAQ:VIRC) by 956.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,643 shares of the company’s stock after acquiring an additional 78,439 shares during the period. LSV Asset Management’s holdings in Virco Mfg. were worth $1,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in shares of Virco Mfg. during the second quarter worth approximately $36,000. Lazard Asset Management LLC increased its stake in Virco Mfg. by 115.6% in the first quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock valued at $37,000 after purchasing an additional 1,850 shares in the last quarter. SG Americas Securities LLC acquired a new position in Virco Mfg. during the second quarter worth $127,000. Russell Investments Group Ltd. acquired a new position in Virco Mfg. during the fourth quarter worth $160,000. Finally, Rhumbline Advisers acquired a new position in Virco Mfg. during the second quarter worth $190,000. 30.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wedbush restated an “outperform” rating and set a $19.00 target price (up previously from $16.00) on shares of Virco Mfg. in a report on Friday, June 7th. StockNews.com cut shares of Virco Mfg. from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th.

Virco Mfg. Stock Performance

NASDAQ VIRC opened at $14.83 on Friday. The company has a current ratio of 2.30, a quick ratio of 0.59 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average price is $15.58 and its two-hundred day moving average price is $13.17. Virco Mfg. Co. has a 1 year low of $5.06 and a 1 year high of $18.50. The firm has a market capitalization of $240.36 million, a P/E ratio of 9.51 and a beta of 0.65.

Virco Mfg. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a $0.025 dividend. The ex-dividend date is Friday, September 20th. This is a positive change from Virco Mfg.’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a dividend yield of 0.67%. Virco Mfg.’s dividend payout ratio is presently 6.41%.

Virco Mfg. 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.