American Century Companies Inc. Boosts Holdings in Virco Mfg. Co. (NASDAQ:VIRC)

American Century Companies Inc. lifted its position in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 45.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,298 shares of the company’s stock after purchasing an additional 85,962 shares during the period. American Century Companies Inc. owned about 1.70% of Virco Mfg. worth $3,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in VIRC. Vanguard Group Inc. raised its holdings in Virco Mfg. by 78.2% in the first 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. O Shaughnessy Asset Management LLC lifted its position in shares of Virco Mfg. by 124.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 124,642 shares of the company’s stock worth $1,362,000 after purchasing an additional 69,179 shares during the last quarter. Cetera Advisors LLC acquired a new position in Virco Mfg. in the first quarter worth about $654,000. Janney Montgomery Scott LLC bought a new stake in Virco Mfg. in the first quarter valued at about $675,000. Finally, LSV Asset Management raised its stake in Virco Mfg. by 956.1% during the second quarter. LSV Asset Management now owns 86,643 shares of the company’s stock valued at $1,208,000 after buying an additional 78,439 shares in the last quarter. 30.97% of the stock is currently owned by hedge funds and other institutional investors.

Virco Mfg. Stock Up 0.5 %

Shares of Virco Mfg. stock opened at $13.52 on Friday. 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 business’s 50 day simple moving average is $15.53 and its 200-day simple moving average is $13.48. The stock has a market capitalization of $220.24 million, a price-to-earnings ratio of 8.67 and a beta of 0.65. Virco Mfg. Co. has a twelve month low of $5.82 and a twelve month high of $18.50.

Virco Mfg. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from Virco Mfg.’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Friday, September 20th. Virco Mfg.’s dividend payout ratio is presently 6.41%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VIRC. StockNews.com lowered Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Wedbush reaffirmed an “outperform” rating and issued a $19.00 price objective (up previously from $16.00) on shares of Virco Mfg. in a report on Friday, June 7th.

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.