Principal Financial Group Inc. Invests $194,000 in Virco Mfg. Co. (NASDAQ:VIRC)

Principal Financial Group Inc. bought a new stake in Virco Mfg. Co. (NASDAQ:VIRC) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 14,052 shares of the company’s stock, valued at approximately $194,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in Virco Mfg. by 11.9% in the second quarter. Dimensional Fund Advisors LP now owns 525,456 shares of the company’s stock valued at $7,325,000 after purchasing an additional 55,689 shares during the last quarter. Vanguard Group Inc. raised its holdings in 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 buying an additional 209,366 shares during the last quarter. Acadian Asset Management LLC boosted its position in Virco Mfg. by 67.1% during the 2nd quarter. Acadian Asset Management LLC now owns 435,068 shares of the company’s stock valued at $6,060,000 after buying an additional 174,704 shares during the period. Renaissance Technologies LLC grew its holdings in Virco Mfg. by 32.2% in the 2nd quarter. Renaissance Technologies LLC now owns 399,130 shares of the company’s stock worth $5,564,000 after acquiring an additional 97,300 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Virco Mfg. by 45.2% in the second quarter. American Century Companies Inc. now owns 276,298 shares of the company’s stock valued at $3,852,000 after acquiring an additional 85,962 shares during the period. 30.97% of the stock is currently owned by institutional investors.

Virco Mfg. Stock Performance

Shares of NASDAQ:VIRC opened at $16.58 on Tuesday. The company has a current ratio of 2.26, a quick ratio of 1.20 and a debt-to-equity ratio of 0.04. The company has a market cap of $270.07 million, a price-to-earnings ratio of 10.05 and a beta of 0.65. Virco Mfg. Co. has a 12 month low of $6.26 and a 12 month high of $18.50. The company has a 50-day moving average price of $14.55 and a 200-day moving average price of $14.63.

Virco Mfg. (NASDAQ:VIRC) last released its quarterly earnings data on Monday, September 9th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $108.42 million during the quarter, compared to analysts’ expectations of $115.90 million. Virco Mfg. had a return on equity of 27.88% and a net margin of 9.50%. As a group, equities analysts anticipate that Virco Mfg. Co. will post 1.93 EPS for the current year.

Virco Mfg. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 20th were issued a $0.025 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.10 annualized dividend and a yield of 0.60%. This is a boost from Virco Mfg.’s previous quarterly dividend of $0.02. Virco Mfg.’s payout ratio is 6.06%.

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.