Virco Manufacturing Corporation to Issue Quarterly Dividend of $0.03 (NASDAQ:VIRC)

Virco Manufacturing Corporation (NASDAQ:VIRC) announced a quarterly dividend on Tuesday, June 2nd. Stockholders of record on Friday, June 19th will be given a dividend of 0.025 per share on Friday, July 10th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, June 18th.

Virco Manufacturing has a dividend payout ratio of 11.5% meaning its dividend is sufficiently covered by earnings.

Virco Manufacturing Price Performance

VIRC stock opened at $5.44 on Thursday. 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 company’s fifty day moving average price is $6.04 and its 200-day moving average price is $6.33. Virco Manufacturing has a one year low of $5.16 and a one year high of $9.09. The company has a market capitalization of $85.57 million, a PE ratio of 32.00 and a beta of 0.21.

Virco Manufacturing (NASDAQ:VIRC) last posted its earnings results on Wednesday, June 3rd. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.19). The company had revenue of $30.69 million for the quarter, compared to analysts’ expectations of $27.20 million. Virco Manufacturing had a net margin of 1.29% and a return on equity of 2.18%.

Insiders Place Their Bets

In other Virco Manufacturing news, EVP Douglas A. Virtue acquired 11,678 shares of the stock in a transaction on Wednesday, April 15th. The stock was acquired at an average price of $6.09 per share, for a total transaction of $71,119.02. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired a total of 22,527 shares of company stock valued at $135,562 in the last quarter. Insiders own 16.94% of the company’s stock.

Institutional Trading of Virco Manufacturing

Several hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Virco Manufacturing in the 3rd quarter valued at about $41,000. State of Alaska Department of Revenue purchased a new stake in Virco Manufacturing during the fourth quarter valued at approximately $47,000. Barclays PLC raised its position in Virco Manufacturing by 16.4% during the fourth quarter. Barclays PLC now owns 17,665 shares of the company’s stock valued at $113,000 after purchasing an additional 2,495 shares during the period. Park Edge Advisors LLC lifted its stake in shares of Virco Manufacturing by 12.9% in the 4th quarter. Park Edge Advisors LLC now owns 18,100 shares of the company’s stock valued at $116,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Virco Manufacturing in the 1st quarter valued at approximately $186,000. 30.97% of the stock is currently owned by hedge funds and other institutional investors.

About Virco Manufacturing

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.