Virco Mfg. Co. (NASDAQ:VIRC) Stock Holdings Boosted by Minerva Advisors LLC

Minerva Advisors LLC increased its stake in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 5.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,162,589 shares of the company’s stock after acquiring an additional 60,900 shares during the period. Virco Mfg. makes up about 6.9% of Minerva Advisors LLC’s investment portfolio, making the stock its 5th largest position. Minerva Advisors LLC owned about 0.07% of Virco Mfg. worth $11,870,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in shares of Virco Mfg. by 11.4% during the fourth quarter. Principal Financial Group Inc. now owns 15,656 shares of the company’s stock worth $160,000 after buying an additional 1,604 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Virco Mfg. by 11.8% during the fourth quarter. Rhumbline Advisers now owns 16,653 shares of the company’s stock worth $171,000 after buying an additional 1,753 shares during the last quarter. IFP Advisors Inc purchased a new position in shares of Virco Mfg. during the fourth quarter worth about $30,000. Barclays PLC grew its holdings in shares of Virco Mfg. by 25.8% during the third quarter. Barclays PLC now owns 14,445 shares of the company’s stock worth $200,000 after buying an additional 2,961 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Virco Mfg. by 129.1% during the third quarter. MetLife Investment Management LLC now owns 6,231 shares of the company’s stock worth $86,000 after buying an additional 3,511 shares during the last quarter. Hedge funds and other institutional investors own 30.97% of the company’s stock.

Virco Mfg. Price Performance

Shares of VIRC opened at $10.43 on Tuesday. Virco Mfg. Co. has a twelve month low of $9.08 and a twelve month high of $18.50. The stock’s 50 day moving average is $10.68 and its two-hundred day moving average is $13.41. The firm has a market capitalization of $169.89 million, a PE ratio of 6.73 and a beta of 0.76. The company has a current ratio of 2.88, a quick ratio of 1.70 and a debt-to-equity ratio of 0.03.

Virco Mfg. (NASDAQ:VIRC) last announced its quarterly earnings data on Monday, December 9th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. During the same period in the previous year, the business posted $0.62 earnings per share. Research analysts anticipate that Virco Mfg. Co. will post 1.54 earnings per share for the current year.

Virco Mfg. announced that its board has initiated a share buyback plan on Tuesday, January 21st that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Virco Mfg. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.96%. Virco Mfg.’s payout ratio is 6.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $17.00 price target (down previously from $20.00) on shares of Virco Mfg. in a report on Tuesday, December 10th. StockNews.com lowered Virco Mfg. from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th.

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.