Algert Global LLC Grows Stock Holdings in Virco Mfg. Co. (NASDAQ:VIRC)

Algert Global LLC boosted its position in Virco Mfg. Co. (NASDAQ:VIRC) by 17.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,158 shares of the company’s stock after acquiring an additional 1,785 shares during the period. Algert Global LLC owned about 0.08% of Virco Mfg. worth $169,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Edge Advisors LLC acquired a new position in shares of Virco Mfg. in the 1st quarter valued at $257,000. Janney Montgomery Scott LLC acquired a new position in shares of Virco Mfg. in the 1st quarter valued at $675,000. LSV Asset Management acquired a new position in shares of Virco Mfg. during the 1st quarter valued at $90,000. Russell Investments Group Ltd. lifted its holdings in shares of Virco Mfg. by 155.9% during the 1st quarter. Russell Investments Group Ltd. now owns 33,613 shares of the company’s stock valued at $367,000 after acquiring an additional 20,480 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Virco Mfg. by 78.2% during the 1st quarter. Vanguard Group Inc. now owns 477,218 shares of the company’s stock valued at $5,216,000 after acquiring an additional 209,366 shares in the last quarter. 30.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Virco Mfg. from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th.

Virco Mfg. Price Performance

NASDAQ VIRC opened at $13.83 on Friday. The company has a 50-day moving average price of $14.92 and a two-hundred day moving average price of $13.73. The stock has a market cap of $225.29 million, a price-to-earnings ratio of 8.87 and a beta of 0.64. Virco Mfg. Co. has a 52 week low of $5.82 and a 52 week high of $18.50. 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. (NASDAQ:VIRC) last released its earnings results on Monday, September 9th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. The business had revenue of $108.42 million during the quarter, compared to analyst estimates of $115.90 million. Analysts forecast that Virco Mfg. Co. will post 1.93 EPS for the current year.

Virco Mfg. Increases Dividend

The business also recently disclosed 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. This represents a $0.10 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Friday, September 20th. This is a positive change from Virco Mfg.’s previous quarterly dividend of $0.02. Virco Mfg.’s dividend payout ratio is currently 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.