Los Angeles Capital Management LLC Invests $1.01 Million in Virco Mfg. Co. (NASDAQ:VIRC)

Los Angeles Capital Management LLC bought a new stake in Virco Mfg. Co. (NASDAQ:VIRC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 73,355 shares of the company’s stock, valued at approximately $1,013,000.

Other large investors have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in Virco Mfg. during the 2nd quarter worth $36,000. Lazard Asset Management LLC grew its holdings in shares of Virco Mfg. by 115.6% during the first quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock worth $37,000 after buying an additional 1,850 shares during the last quarter. SG Americas Securities LLC acquired a new position in Virco Mfg. in the 2nd quarter valued at about $127,000. Creative Planning purchased a new stake in Virco Mfg. during the 3rd quarter valued at approximately $159,000. Finally, Algert Global LLC raised its stake in Virco Mfg. by 17.2% during the 2nd quarter. Algert Global LLC now owns 12,158 shares of the company’s stock valued at $169,000 after acquiring an additional 1,785 shares during the last quarter. 30.97% of the stock is owned by institutional investors and hedge funds.

Virco Mfg. Stock Down 1.3 %

VIRC stock opened at $14.82 on Friday. Virco Mfg. Co. has a one year low of $6.20 and a one year high of $18.50. 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 company has a fifty day moving average of $14.40 and a 200-day moving average of $14.40. The stock has a market capitalization of $241.42 million, a PE ratio of 8.98 and a beta of 0.65.

Virco Mfg. (NASDAQ:VIRC) last announced 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. Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. The firm had revenue of $108.42 million during the quarter, compared to the consensus estimate of $115.90 million. As a group, analysts expect that Virco Mfg. Co. will post 1.93 EPS for the current year.

Virco Mfg. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors 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%. The ex-dividend date was Friday, September 20th. This is a positive change from Virco Mfg.’s previous quarterly dividend of $0.02. Virco Mfg.’s dividend payout ratio is currently 6.06%.

Analysts Set New Price Targets

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

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.