Virco Mfg. Co. (NASDAQ:VIRC) Shares Sold by Minerva Advisors LLC

Minerva Advisors LLC reduced its position in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,101,689 shares of the company’s stock after selling 17,331 shares during the period. Virco Mfg. makes up about 8.8% of Minerva Advisors LLC’s portfolio, making the stock its 3rd biggest holding. Minerva Advisors LLC owned approximately 6.76% of Virco Mfg. worth $15,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in Virco Mfg. in the 2nd quarter valued at $36,000. Lazard Asset Management LLC raised its holdings in Virco Mfg. by 115.6% in the 1st quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock valued at $37,000 after acquiring an additional 1,850 shares in the last quarter. SG Americas Securities LLC acquired a new position in Virco Mfg. in the 2nd quarter valued at $127,000. Creative Planning bought a new position in shares of Virco Mfg. in the 3rd quarter valued at $159,000. Finally, Algert Global LLC increased its stake in shares of Virco Mfg. by 17.2% in the 2nd 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 during the last quarter. 30.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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. Trading Up 2.6 %

Shares of VIRC opened at $15.20 on Tuesday. Virco Mfg. Co. has a 52-week low of $6.20 and a 52-week high of $18.50. The business’s fifty day moving average is $14.44 and its 200-day moving average is $14.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.20 and a current ratio of 2.26. The firm has a market cap of $247.61 million, a price-to-earnings ratio of 9.21 and a beta of 0.65.

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

Virco Mfg. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 20th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.10 dividend on an annualized basis and a yield of 0.66%. This is a positive change from Virco Mfg.’s previous quarterly dividend of $0.02. Virco Mfg.’s payout ratio is currently 6.06%.

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.