Renaissance Technologies LLC Has $5.56 Million Stock Holdings in Virco Mfg. Co. (NASDAQ:VIRC)

Renaissance Technologies LLC raised its holdings in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 32.2% in the second quarter, HoldingsChannel.com reports. The firm owned 399,130 shares of the company’s stock after buying an additional 97,300 shares during the period. Renaissance Technologies LLC’s holdings in Virco Mfg. were worth $5,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Lazard Asset Management LLC raised its position in Virco Mfg. by 115.6% in the 1st quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock valued at $37,000 after buying an additional 1,850 shares during the last quarter. nVerses Capital LLC purchased a new position in Virco Mfg. in the second quarter valued at about $36,000. LSV Asset Management purchased a new position in Virco Mfg. in the first quarter valued at approximately $90,000. SG Americas Securities LLC purchased a new position in shares of Virco Mfg. during the 2nd quarter valued at $127,000. Finally, Rhumbline Advisers purchased a new stake in Virco Mfg. during the second quarter valued at about $190,000. 30.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VIRC has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $19.00 price objective (up from $16.00) on shares of Virco Mfg. in a research note on Friday, June 7th. StockNews.com lowered Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th.

Virco Mfg. Trading Up 0.5 %

Shares of Virco Mfg. stock opened at $13.52 on Friday. The company’s 50-day moving average price is $15.53 and its 200-day moving average price is $13.48. The company has a current ratio of 2.26, a quick ratio of 1.20 and a debt-to-equity ratio of 0.04. Virco Mfg. Co. has a 12-month low of $5.82 and a 12-month high of $18.50. The company has a market cap of $220.24 million, a price-to-earnings ratio of 8.67 and a beta of 0.65.

Virco Mfg. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Friday, September 20th. This is a boost from Virco Mfg.’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a yield of 0.74%. Virco Mfg.’s dividend payout ratio is currently 6.41%.

About Virco Mfg.

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.