Virco Mfg. Co. (NASDAQ:VIRC) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Virco Mfg. Co. (NASDAQ:VIRC) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 240,844 shares of the company’s stock after purchasing an additional 6,710 shares during the quarter. Geode Capital Management LLC owned about 1.48% of Virco Mfg. worth $3,327,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in VIRC. MetLife Investment Management LLC increased its position in Virco Mfg. by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 6,231 shares of the company’s stock valued at $86,000 after acquiring an additional 3,511 shares during the period. Virtus Investment Advisers Inc. acquired a new position in shares of Virco Mfg. in the third quarter valued at approximately $90,000. Walleye Capital LLC purchased a new stake in shares of Virco Mfg. during the third quarter worth approximately $140,000. Creative Planning purchased a new stake in shares of Virco Mfg. during the third quarter worth approximately $159,000. Finally, Algert Global LLC lifted its holdings in shares of Virco Mfg. by 17.2% during the second quarter. Algert Global LLC now owns 12,158 shares of the company’s stock worth $169,000 after purchasing an additional 1,785 shares during the period. 30.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Virco Mfg. from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Wedbush reissued an “outperform” rating and set a $17.00 price target (down from $20.00) on shares of Virco Mfg. in a report on Tuesday, December 10th.

Virco Mfg. Trading Down 2.4 %

Shares of VIRC stock opened at $9.80 on Tuesday. The business’s fifty day moving average price is $13.65 and its 200 day moving average price is $14.47. The firm has a market capitalization of $159.63 million, a PE ratio of 6.32 and a beta of 0.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.88 and a quick ratio of 1.20. Virco Mfg. Co. has a 1-year low of $8.75 and a 1-year high of $18.50.

Virco Mfg. (NASDAQ:VIRC) last posted its quarterly earnings results on Monday, December 9th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35). Virco Mfg. had a return on equity of 24.63% and a net margin of 8.93%. During the same quarter last year, the firm earned $0.62 EPS. As a group, sell-side analysts forecast that Virco Mfg. Co. will post 1.54 EPS for the current fiscal year.

Virco Mfg. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a $0.025 dividend. 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 1.02%. Virco Mfg.’s dividend payout ratio (DPR) is presently 6.45%.

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.