41,443 Shares in Virco Mfg. Co. (NASDAQ:VIRC) Purchased by Inspire Advisors LLC

Inspire Advisors LLC purchased a new position in shares of Virco Mfg. Co. (NASDAQ:VIRC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,443 shares of the company’s stock, valued at approximately $572,000.

Several other hedge funds have also recently modified their holdings of VIRC. nVerses Capital LLC acquired a new position in shares of Virco Mfg. during the 2nd quarter worth about $36,000. Lazard Asset Management LLC raised its position in shares of Virco Mfg. by 115.6% during the 1st quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock worth $37,000 after purchasing an additional 1,850 shares during the last quarter. LSV Asset Management acquired a new position in shares of Virco Mfg. during the 1st quarter worth about $90,000. SG Americas Securities LLC acquired a new position in shares of Virco Mfg. during the 2nd quarter worth about $127,000. Finally, Creative Planning acquired a new position in shares of Virco Mfg. during the 3rd quarter worth about $159,000. Institutional investors and hedge funds own 30.97% of the company’s stock.

Virco Mfg. Stock Up 1.9 %

VIRC stock opened at $14.82 on Friday. The company has a market cap of $241.42 million, a price-to-earnings ratio of 8.98 and a beta of 0.64. The company has a current ratio of 2.26, a quick ratio of 1.20 and a debt-to-equity ratio of 0.04. Virco Mfg. Co. has a 12 month low of $5.82 and a 12 month high of $18.50. The firm has a 50-day moving average of $14.92 and a two-hundred day moving average of $13.89.

Virco Mfg. (NASDAQ:VIRC) last released its quarterly earnings data on Monday, September 9th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $108.42 million during the quarter, compared to the consensus estimate of $115.90 million. Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. As a group, analysts forecast that Virco Mfg. Co. will post 1.93 earnings per share for the current fiscal year.

Virco Mfg. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were paid a $0.025 dividend. This is a boost from Virco Mfg.’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.10 annualized dividend and a dividend yield of 0.67%. Virco Mfg.’s dividend payout ratio is 6.06%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Virco Mfg. from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th.

About Virco Mfg.

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.