Virco Mfg. Co. (NASDAQ:VIRC) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management grew its position in Virco Mfg. Co. (NASDAQ:VIRC) by 7.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 97,527 shares of the company’s stock after acquiring an additional 6,399 shares during the period. Ritholtz Wealth Management’s holdings in Virco Mfg. were worth $1,347,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Virco Mfg. in the second quarter valued at $36,000. Lazard Asset Management LLC grew its stake in shares of Virco Mfg. by 115.6% in the first quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock valued at $37,000 after buying an additional 1,850 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Virco Mfg. in the first quarter valued at $90,000. SG Americas Securities LLC acquired a new stake in shares of Virco Mfg. in the second quarter valued at $127,000. Finally, Algert Global LLC grew its stake in shares of Virco Mfg. by 17.2% in the second quarter. Algert Global LLC now owns 12,158 shares of the company’s stock valued at $169,000 after buying an additional 1,785 shares in the last quarter. 30.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Virco Mfg. Trading Up 8.6 %

VIRC opened at $15.02 on Monday. Virco Mfg. Co. has a 12 month low of $5.82 and a 12 month high of $18.50. The stock has a market capitalization of $244.68 million, a price-to-earnings ratio of 9.10 and a beta of 0.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.26 and a quick ratio of 1.20. The business has a fifty day moving average price of $14.89 and a 200 day moving average price of $13.80.

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

Virco Mfg. Increases Dividend

The firm also recently declared 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. This represents a $0.10 dividend on an annualized basis and a yield of 0.67%. This is an increase from Virco Mfg.’s previous quarterly dividend of $0.02. The ex-dividend date was Friday, September 20th. Virco Mfg.’s payout ratio is 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.