Virco Mfg. Co. (NASDAQ:VIRC – Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.83 and traded as high as $11.91. Virco Mfg. shares last traded at $11.86, with a volume of 123,683 shares changing hands.
Analyst Ratings Changes
Separately, TheStreet raised shares of Virco Mfg. from a “c” rating to a “b” rating in a research note on Wednesday, February 14th.
Read Our Latest Stock Analysis on VIRC
Virco Mfg. Price Performance
Virco Mfg. (NASDAQ:VIRC – Get Free Report) last announced its quarterly earnings data on Friday, April 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Virco Mfg. had a net margin of 8.14% and a return on equity of 26.24%. The business had revenue of $42.60 million during the quarter, compared to the consensus estimate of $40.70 million. As a group, sell-side analysts anticipate that Virco Mfg. Co. will post 1.6 EPS for the current fiscal year.
Virco Mfg. Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Thursday, March 7th were paid a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.08 dividend on an annualized basis and a yield of 0.67%. Virco Mfg.’s payout ratio is presently 5.97%.
Hedge Funds Weigh In On Virco Mfg.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC bought a new position in Virco Mfg. in the third quarter valued at approximately $74,000. LSV Asset Management bought a new position in Virco Mfg. in the first quarter valued at approximately $90,000. Merit Financial Group LLC raised its holdings in Virco Mfg. by 27.7% in the third quarter. Merit Financial Group LLC now owns 13,176 shares of the company’s stock worth $105,000 after purchasing an additional 2,859 shares during the period. Acadian Asset Management LLC acquired a new stake in Virco Mfg. in the third quarter worth $146,000. Finally, Russell Investments Group Ltd. acquired a new stake in Virco Mfg. in the fourth quarter worth $160,000. 30.97% of the stock is owned by institutional investors.
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.
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