D Orazio & Associates Inc. Takes Position in Virco Mfg. Co. (NASDAQ:VIRC)

D Orazio & Associates Inc. acquired a new position in Virco Mfg. Co. (NASDAQ:VIRC) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 13,847 shares of the company’s stock, valued at approximately $191,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in Virco Mfg. by 78.2% during the 1st quarter. Vanguard Group Inc. now owns 477,218 shares of the company’s stock worth $5,216,000 after purchasing an additional 209,366 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Virco Mfg. by 124.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 124,642 shares of the company’s stock valued at $1,362,000 after acquiring an additional 69,179 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Virco Mfg. during the 1st quarter worth $675,000. Cetera Advisors LLC purchased a new position in Virco Mfg. in the first quarter valued at about $654,000. Finally, LSV Asset Management lifted its stake in shares of Virco Mfg. by 956.1% during the second quarter. LSV Asset Management now owns 86,643 shares of the company’s stock worth $1,208,000 after purchasing an additional 78,439 shares in the last quarter. 30.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th.

Virco Mfg. Price Performance

Shares of VIRC stock opened at $15.56 on Thursday. The firm has a fifty day simple moving average of $14.39 and a 200-day simple moving average of $14.37. The company has a market capitalization of $253.47 million, a PE ratio of 9.43 and a beta of 0.65. Virco Mfg. Co. has a twelve month low of $6.02 and a twelve month high of $18.50. 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. (NASDAQ:VIRC) last announced its earnings results on Monday, September 9th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. Virco Mfg. had a return on equity of 27.88% and a net margin of 9.50%. The company had revenue of $108.42 million during the quarter, compared to the consensus estimate of $115.90 million. Equities research analysts anticipate that Virco Mfg. Co. will post 1.93 earnings per share for the current fiscal year.

Virco Mfg. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 20th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from Virco Mfg.’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a yield of 0.64%. Virco Mfg.’s payout ratio is currently 6.06%.

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.