Janney Montgomery Scott LLC Sells 15,069 Shares of Virco Mfg. Co. (NASDAQ:VIRC)

Janney Montgomery Scott LLC decreased its position in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,406 shares of the company’s stock after selling 15,069 shares during the period. Janney Montgomery Scott LLC owned approximately 0.42% of Virco Mfg. worth $701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of VIRC. Algert Global LLC increased 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. Barclays PLC grew its position in Virco Mfg. by 25.8% during the third quarter. Barclays PLC now owns 14,445 shares of the company’s stock worth $200,000 after buying an additional 2,961 shares in the last quarter. MetLife Investment Management LLC increased its stake in Virco Mfg. by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 6,231 shares of the company’s stock worth $86,000 after acquiring an additional 3,511 shares during the period. Ritholtz Wealth Management raised its holdings in Virco Mfg. by 7.0% in the 3rd quarter. Ritholtz Wealth Management now owns 97,527 shares of the company’s stock valued at $1,347,000 after acquiring an additional 6,399 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in shares of Virco Mfg. by 12.5% during the 3rd quarter. Inspire Investing LLC now owns 58,300 shares of the company’s stock valued at $805,000 after acquiring an additional 6,481 shares during the period. Institutional investors and hedge funds own 30.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VIRC. StockNews.com cut Virco Mfg. from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Wedbush reissued an “outperform” rating and issued a $17.00 target price (down from $20.00) on shares of Virco Mfg. in a report on Tuesday, December 10th.

Virco Mfg. Trading Down 1.2 %

Shares of VIRC stock opened at $11.23 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.70 and a current ratio of 2.88. Virco Mfg. Co. has a fifty-two week low of $8.75 and a fifty-two week high of $18.50. The company has a market cap of $182.94 million, a PE ratio of 7.25 and a beta of 0.76. The stock’s fifty day moving average price is $11.31 and its two-hundred day moving average price is $13.80.

Virco Mfg. (NASDAQ:VIRC) last released its quarterly earnings data on Monday, December 9th. The company reported $0.52 earnings per share 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 period last year, the business earned $0.62 earnings per share. Equities analysts predict that Virco Mfg. Co. will post 1.54 EPS for the current fiscal year.

Virco Mfg. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.89%. The ex-dividend date was Friday, December 20th. Virco Mfg.’s payout ratio is 6.45%.

Virco Mfg. declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 21st that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.