Acadian Asset Management LLC Sells 31,034 Shares of Virco Manufacturing Corporation $VIRC

Acadian Asset Management LLC reduced its stake in Virco Manufacturing Corporation (NASDAQ:VIRC) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,272 shares of the company’s stock after selling 31,034 shares during the period. Acadian Asset Management LLC owned approximately 2.57% of Virco Manufacturing worth $3,908,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State of Wyoming bought a new position in shares of Virco Manufacturing in the first quarter worth $50,000. Graham Capital Management L.P. bought a new stake in Virco Manufacturing during the fourth quarter valued at $107,000. Sherbrooke Park Advisers LLC bought a new stake in Virco Manufacturing during the fourth quarter valued at $131,000. Two Sigma Advisers LP bought a new stake in Virco Manufacturing during the fourth quarter valued at $138,000. Finally, BNP Paribas Financial Markets boosted its stake in Virco Manufacturing by 23.4% during the fourth quarter. BNP Paribas Financial Markets now owns 19,272 shares of the company’s stock valued at $198,000 after buying an additional 3,653 shares during the period. 30.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Virco Manufacturing to a “hold” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.00.

Virco Manufacturing Stock Down 3.0%

VIRC opened at $7.97 on Monday. The company has a market cap of $125.62 million, a P/E ratio of 9.16 and a beta of 0.40. The business’s 50-day moving average price is $8.21 and its 200-day moving average price is $8.76. The company has a current ratio of 2.96, a quick ratio of 1.38 and a debt-to-equity ratio of 0.03. Virco Manufacturing Corporation has a 12 month low of $7.47 and a 12 month high of $17.31.

Virco Manufacturing (NASDAQ:VIRC) last released its quarterly earnings data on Friday, September 5th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.14). Virco Manufacturing had a return on equity of 12.04% and a net margin of 5.74%.The company had revenue of $92.09 million during the quarter, compared to analysts’ expectations of $113.80 million. On average, equities analysts expect that Virco Manufacturing Corporation will post 1.54 EPS for the current year.

Virco Manufacturing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 19th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, September 19th. Virco Manufacturing’s payout ratio is currently 11.49%.

Virco Manufacturing 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.