Inspire Investing LLC Invests $722,000 in Virco Mfg. Co. (NASDAQ:VIRC)

Inspire Investing LLC acquired a new stake in Virco Mfg. Co. (NASDAQ:VIRC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 51,819 shares of the company’s stock, valued at approximately $722,000.

A number of other large investors have also recently added to or reduced their stakes in VIRC. Vanguard Group Inc. grew its stake in Virco Mfg. by 78.2% in 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 during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Virco Mfg. by 67.1% during the 2nd quarter. Acadian Asset Management LLC now owns 435,068 shares of the company’s stock worth $6,060,000 after acquiring an additional 174,704 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Virco Mfg. by 32.2% during 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 period. American Century Companies Inc. lifted its holdings in shares of Virco Mfg. by 45.2% during the 2nd quarter. American Century Companies Inc. now owns 276,298 shares of the company’s stock worth $3,852,000 after acquiring an additional 85,962 shares during the period. Finally, Ancora Advisors LLC purchased a new position in Virco Mfg. in the first quarter valued at approximately $917,000. 30.97% of the stock is owned by institutional investors and hedge funds.

Virco Mfg. Stock Performance

VIRC stock opened at $13.89 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.20 and a current ratio of 2.26. The stock has a market capitalization of $226.27 million, a price-to-earnings ratio of 8.90 and a beta of 0.65. Virco Mfg. Co. has a 1 year low of $5.71 and a 1 year high of $18.50. The stock’s fifty day moving average is $15.76 and its two-hundred day moving average is $13.35.

Virco Mfg. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be paid a dividend of $0.025 per share. This is a boost from Virco Mfg.’s previous quarterly dividend of $0.02. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, September 20th. Virco Mfg.’s payout ratio is currently 5.13%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $19.00 price objective (up previously from $16.00) on shares of Virco Mfg. in a research note on Friday, June 7th. StockNews.com downgraded shares of Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th.

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.