Virco Manufacturing (NASDAQ:VIRC) Releases Earnings Results, Misses Expectations By $0.19 EPS

Virco Manufacturing (NASDAQ:VIRC) released its quarterly earnings data on Wednesday. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.19), Zacks reports. Virco Manufacturing had a return on equity of 2.18% and a net margin of 1.29%.

Virco Manufacturing Stock Performance

Shares of VIRC opened at $5.68 on Wednesday. The firm has a market cap of $89.27 million, a P/E ratio of 33.38 and a beta of 0.21. Virco Manufacturing has a twelve month low of $5.16 and a twelve month high of $9.09. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.31 and a current ratio of 3.09. The firm’s 50 day moving average price is $6.05 and its two-hundred day moving average price is $6.35.

Virco Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 20th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, March 20th. Virco Manufacturing’s dividend payout ratio (DPR) is 58.82%.

Insider Activity at Virco Manufacturing

In other Virco Manufacturing news, EVP Douglas A. Virtue purchased 11,678 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was acquired at an average price of $6.09 per share, with a total value of $71,119.02. Following the acquisition, the executive vice president directly owned 877,866 shares of the company’s stock, valued at $5,346,203.94. This trade represents a 1.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have acquired a total of 22,527 shares of company stock valued at $135,562 over the last 90 days. Insiders own 16.94% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VIRC. Barclays PLC raised its holdings in Virco Manufacturing by 16.4% in the 4th quarter. Barclays PLC now owns 17,665 shares of the company’s stock valued at $113,000 after acquiring an additional 2,495 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in Virco Manufacturing by 3.4% in the second quarter. Bridgeway Capital Management LLC now owns 87,221 shares of the company’s stock valued at $696,000 after acquiring an additional 2,882 shares during the last quarter. Empowered Funds LLC increased its position in Virco Manufacturing by 8.9% during the 4th quarter. Empowered Funds LLC now owns 37,957 shares of the company’s stock valued at $243,000 after purchasing an additional 3,095 shares during the period. Geode Capital Management LLC raised its holdings in Virco Manufacturing by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 265,554 shares of the company’s stock worth $1,697,000 after purchasing an additional 4,355 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Virco Manufacturing by 18.2% during the 4th quarter. Wells Fargo & Company MN now owns 28,777 shares of the company’s stock worth $184,000 after purchasing an additional 4,427 shares during the last quarter. Institutional investors and hedge funds own 30.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on VIRC shares. Weiss Ratings lowered shares of Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 10th. Freedom Capital raised Virco Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.