Barclays PLC Acquires 2,961 Shares of Virco Mfg. Co. (NASDAQ:VIRC)

Barclays PLC increased its holdings in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 25.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,445 shares of the company’s stock after purchasing an additional 2,961 shares during the quarter. Barclays PLC owned 0.09% of Virco Mfg. worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MetLife Investment Management LLC lifted its holdings in shares of Virco Mfg. by 129.1% during the third quarter. MetLife Investment Management LLC now owns 6,231 shares of the company’s stock valued at $86,000 after purchasing an additional 3,511 shares in the last quarter. Virtus Investment Advisers Inc. bought a new position in shares of Virco Mfg. during the third quarter valued at $90,000. Walleye Capital LLC bought a new position in shares of Virco Mfg. during the third quarter valued at $140,000. Creative Planning bought a new position in shares of Virco Mfg. during the third quarter valued at $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 valued at $169,000 after purchasing an additional 1,785 shares in the last quarter. 30.97% of the stock is owned by institutional investors.

Virco Mfg. Stock Up 12.9 %

Virco Mfg. stock opened at $11.35 on Wednesday. The stock has a market cap of $184.89 million, a PE ratio of 7.32 and a beta of 0.77. 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 one year low of $8.75 and a one year high of $18.50. The stock has a fifty day moving average of $12.52 and a 200 day moving average of $14.16.

Virco Mfg. (NASDAQ:VIRC) last issued its quarterly earnings results on Monday, December 9th. The company reported $0.52 EPS 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 period in the previous year, the firm posted $0.62 earnings per share. As a group, sell-side analysts predict that Virco Mfg. Co. will post 1.54 EPS for the current year.

Virco Mfg. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Friday, December 20th. Virco Mfg.’s payout ratio is 6.45%.

Virco Mfg. announced that its Board of Directors has approved a share repurchase program on Tuesday, January 21st that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VIRC. StockNews.com cut Virco Mfg. from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Wedbush reiterated an “outperform” rating and set a $17.00 price objective (down previously from $20.00) on shares of Virco Mfg. in a research report 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.