Douglas Virtue Acquires 13,022 Shares of Virco Manufacturing (NASDAQ:VIRC) Stock

Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) EVP Douglas Virtue purchased 13,022 shares of Virco Manufacturing stock in a transaction dated Friday, October 17th. The stock was bought at an average cost of $7.34 per share, with a total value of $95,581.48. Following the completion of the purchase, the executive vice president owned 861,839 shares in the company, valued at approximately $6,325,898.26. This trade represents a 1.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Virco Manufacturing Price Performance

NASDAQ VIRC opened at $7.30 on Friday. Virco Manufacturing Corporation has a 12 month low of $6.65 and a 12 month high of $17.31. The firm has a market capitalization of $115.06 million, a PE ratio of 8.39 and a beta of 0.36. The company's 50 day simple moving average is $7.92 and its 200 day simple moving average is $8.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.96 and a quick ratio of 1.38.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last issued its quarterly earnings results on Friday, September 5th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.14). Virco Manufacturing had a net margin of 5.74% and a return on equity of 12.04%. The firm had revenue of $92.09 million for the quarter, compared to the consensus estimate of $113.80 million. As a group, equities research analysts forecast that Virco Manufacturing Corporation will post 1.54 EPS for the current fiscal year.

Virco Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 19th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 19th. Virco Manufacturing's payout ratio is presently 11.49%.

Hedge Funds Weigh In On Virco Manufacturing

A number of institutional investors have recently bought and sold shares of the stock. State of Wyoming acquired a new stake in Virco Manufacturing during the 1st quarter worth about $50,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Virco Manufacturing in the first quarter worth approximately $186,000. Strs Ohio acquired a new stake in shares of Virco Manufacturing during the first quarter valued at approximately $211,000. Empowered Funds LLC purchased a new stake in shares of Virco Manufacturing in the 1st quarter valued at approximately $258,000. Finally, Voya Investment Management LLC acquired a new position in Virco Manufacturing in the 1st quarter worth approximately $281,000. Hedge funds and other institutional investors own 30.97% of the company's stock.

Wall Street Analysts Forecast Growth

VIRC has been the subject of a number of research analyst reports. Zacks Research raised shares of Virco Manufacturing to a "hold" rating in a report on Friday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Virco Manufacturing in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $17.00.

Check Out Our Latest Research Report on VIRC

Virco Manufacturing Company Profile

(Get Free Report)

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.

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