Virco Mfg. Co. (NASDAQ:VIRC) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 749.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,619 shares of the company’s stock after buying an additional 13,781 shares during the period. BNP Paribas Financial Markets owned approximately 0.10% of Virco Mfg. worth $216,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VIRC. D Orazio & Associates Inc. purchased a new position in Virco Mfg. in the 3rd quarter worth $191,000. Victory Capital Management Inc. purchased a new position in shares of Virco Mfg. in the third quarter worth about $226,000. Los Angeles Capital Management LLC purchased a new position in shares of Virco Mfg. in the third quarter worth about $1,013,000. Principal Financial Group Inc. acquired a new stake in shares of Virco Mfg. during the third quarter worth about $194,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Virco Mfg. in the third quarter valued at approximately $1,153,000. 30.97% of the stock is owned by hedge funds and other institutional investors.

Virco Mfg. Price Performance

Shares of NASDAQ VIRC opened at $11.46 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.88 and a quick ratio of 1.20. The stock has a market capitalization of $186.67 million, a price-to-earnings ratio of 7.39 and a beta of 0.68. The firm’s 50 day simple moving average is $14.80 and its 200-day simple moving average is $14.89. Virco Mfg. Co. has a 12 month low of $8.75 and a 12 month high of $18.50.

Virco Mfg. (NASDAQ:VIRC) last released its quarterly earnings results on Monday, December 9th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.35). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. During the same quarter last year, the business posted $0.62 EPS. Analysts expect that Virco Mfg. Co. will post 1.54 EPS for the current year.

Virco Mfg. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.10 dividend on an annualized basis and a yield of 0.87%. Virco Mfg.’s dividend payout ratio is currently 6.45%.

Wall Street Analysts Forecast Growth

VIRC has been the subject of a number of recent research reports. StockNews.com lowered shares of Virco Mfg. from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Wedbush reiterated an “outperform” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Virco Mfg. in a research note on Tuesday, December 10th.

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.