Janney Montgomery Scott LLC Takes Position in Virco Mfg. Co. (NASDAQ:VIRC)

Janney Montgomery Scott LLC bought a new stake in Virco Mfg. Co. (NASDAQ:VIRC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 83,475 shares of the company’s stock, valued at approximately $1,153,000. Janney Montgomery Scott LLC owned 0.51% of Virco Mfg. as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in Virco Mfg. by 155.9% during the first quarter. Russell Investments Group Ltd. now owns 33,613 shares of the company’s stock worth $367,000 after buying an additional 20,480 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 period. Acadian Asset Management LLC grew its position in shares of Virco Mfg. by 47.1% during the 1st quarter. Acadian Asset Management LLC now owns 260,364 shares of the company’s stock worth $2,843,000 after buying an additional 83,405 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Virco Mfg. by 124.7% in 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. Finally, Lazard Asset Management LLC raised its position in Virco Mfg. by 115.6% in the first quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock valued at $37,000 after purchasing an additional 1,850 shares during the period. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Virco Mfg. Price Performance

Shares of NASDAQ:VIRC opened at $14.82 on Friday. The business has a fifty day simple moving average of $14.40 and a 200-day simple moving average of $14.40. Virco Mfg. Co. has a 52 week low of $6.20 and a 52 week high of $18.50. The company has a quick ratio of 1.20, a current ratio of 2.26 and a debt-to-equity ratio of 0.04. The company has a market cap of $241.42 million, a P/E ratio of 8.98 and a beta of 0.65.

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

Virco Mfg. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Virco Mfg.’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Friday, September 20th. Virco Mfg.’s dividend payout ratio (DPR) is currently 6.06%.

Virco Mfg. Company 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.