Virco Manufacturing (NASDAQ:VIRC) Announces Earnings Results

Virco Manufacturing (NASDAQ:VIRC) posted its earnings results on Wednesday. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.19), Zacks reports. Virco Manufacturing had a net margin of 1.29% and a return on equity of 2.18%.

Virco Manufacturing Stock Performance

Shares of VIRC traded down $0.41 during trading hours on Wednesday, reaching $5.55. 11,139 shares of the company’s stock traded hands, compared to its average volume of 41,818. Virco Manufacturing has a twelve month low of $5.16 and a twelve month high of $9.09. The business’s fifty day simple moving average is $6.05 and its two-hundred day simple moving average is $6.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.09 and a quick ratio of 1.31. The firm has a market capitalization of $87.30 million, a price-to-earnings ratio of 32.65 and a beta of 0.21.

Virco Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 20th were paid a $0.025 dividend. The ex-dividend date of this dividend was Friday, March 20th. This represents a $0.10 annualized dividend and a dividend yield of 1.8%. Virco Manufacturing’s dividend payout ratio is presently 58.82%.

Insiders Place Their Bets

In related news, EVP Douglas A. Virtue bought 11,678 shares of the stock in a transaction on Wednesday, April 15th. The shares were purchased at an average price of $6.09 per share, with a total value of $71,119.02. Following the purchase, the executive vice president owned 877,866 shares in the company, valued at approximately $5,346,203.94. This represents a 1.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 22,527 shares of company stock valued at $135,562 over the last three months. Corporate insiders own 16.94% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Virco Manufacturing during the third quarter worth approximately $41,000. Barclays PLC boosted its stake in Virco Manufacturing by 16.4% during the 4th quarter. Barclays PLC now owns 17,665 shares of the company’s stock valued at $113,000 after purchasing an additional 2,495 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Virco Manufacturing during the 3rd quarter valued at $158,000. Wells Fargo & Company MN increased its position in shares of Virco Manufacturing by 18.2% during the 4th quarter. Wells Fargo & Company MN now owns 28,777 shares of the company’s stock valued at $184,000 after purchasing an additional 4,427 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Virco Manufacturing in the 1st quarter worth $186,000. 30.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VIRC has been the subject of a number of analyst reports. Weiss Ratings lowered Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. Freedom Capital raised Virco Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

About Virco Manufacturing

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.