Creative Planning Purchases New Shares in Virco Mfg. Co. (NASDAQ:VIRC)

Creative Planning purchased a new stake in shares of Virco Mfg. Co. (NASDAQ:VIRC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,540 shares of the company’s stock, valued at approximately $159,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in Virco Mfg. during the 2nd quarter valued at $36,000. Lazard Asset Management LLC increased its holdings in Virco Mfg. by 115.6% during the 1st quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock valued at $37,000 after purchasing an additional 1,850 shares in the last quarter. LSV Asset Management acquired a new stake in Virco Mfg. during the 1st quarter valued at $90,000. SG Americas Securities LLC acquired a new stake in shares of Virco Mfg. in the 2nd quarter valued at $127,000. 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 buying an additional 1,785 shares during the period. 30.97% of the stock is owned by institutional investors and hedge funds.

Virco Mfg. Stock Up 4.6 %

NASDAQ VIRC opened at $16.23 on Tuesday. The stock has a fifty day moving average of $14.34 and a 200-day moving average of $14.33. The stock has a market capitalization of $264.39 million, a P/E ratio of 9.84 and a beta of 0.65. Virco Mfg. Co. has a 52 week low of $6.02 and a 52 week 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.

Virco Mfg. (NASDAQ:VIRC) last posted its quarterly earnings results on Monday, September 9th. The company reported $1.04 earnings per share (EPS) for the quarter, topping 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 business had revenue of $108.42 million for the quarter, compared to analyst estimates of $115.90 million. On average, equities research analysts forecast that Virco Mfg. Co. will post 1.93 EPS for the current year.

Virco Mfg. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were given a $0.025 dividend. This is a positive change from Virco Mfg.’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, September 20th. Virco Mfg.’s dividend payout ratio (DPR) is currently 6.06%.

Wall Street Analysts Forecast Growth

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