Creative Planning Invests $159,000 in Virco Mfg. Co. (NASDAQ:VIRC)

Creative Planning purchased a new position in shares of Virco Mfg. Co. (NASDAQ:VIRC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,540 shares of the company’s stock, valued at approximately $159,000. Creative Planning owned approximately 0.07% of Virco Mfg. as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in VIRC. nVerses Capital LLC bought a new stake in shares of Virco Mfg. during the 2nd quarter worth about $36,000. Lazard Asset Management LLC boosted its stake 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 during the period. LSV Asset Management bought a new stake in Virco Mfg. during the 1st quarter valued at approximately $90,000. SG Americas Securities LLC bought a new stake in Virco Mfg. during the 2nd quarter valued at approximately $127,000. Finally, Algert Global LLC boosted its stake in Virco Mfg. by 17.2% during the 2nd quarter. Algert Global LLC now owns 12,158 shares of the company’s stock valued at $169,000 after purchasing an additional 1,785 shares during the period. Institutional investors own 30.97% of the company’s stock.

Virco Mfg. Price Performance

Shares of NASDAQ:VIRC opened at $16.23 on Tuesday. The business has a 50 day moving average price of $14.34 and a 200 day moving average price of $14.33. Virco Mfg. Co. has a twelve month low of $6.02 and a twelve month high of $18.50. The company has a market cap of $264.39 million, a price-to-earnings ratio of 9.84 and a beta of 0.65. The company has a quick ratio of 1.20, a current ratio of 2.26 and a debt-to-equity ratio of 0.04.

Virco Mfg. (NASDAQ:VIRC) last announced its quarterly earnings data on Monday, September 9th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Virco Mfg. had a return on equity of 27.88% and a net margin of 9.50%. The company had revenue of $108.42 million during the quarter, compared to the consensus estimate of $115.90 million. Research analysts predict that Virco Mfg. Co. will post 1.93 earnings per share for the current year.

Virco Mfg. Increases Dividend

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

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th.

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.