Goldman Sachs Group Inc. Raises Stake in Virco Manufacturing Corporation $VIRC

Goldman Sachs Group Inc. increased its stake in Virco Manufacturing Corporation (NASDAQ:VIRC) by 9.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 62,829 shares of the company’s stock after buying an additional 5,436 shares during the quarter. Goldman Sachs Group Inc. owned 0.40% of Virco Manufacturing worth $594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VIRC. State of Wyoming purchased a new position in shares of Virco Manufacturing in the 1st quarter worth about $50,000. Two Sigma Advisers LP purchased a new position in shares of Virco Manufacturing in the 4th quarter worth about $138,000. Jacobs Levy Equity Management Inc. purchased a new stake in Virco Manufacturing during the first quarter valued at about $186,000. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 3,653 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Virco Manufacturing during the first quarter valued at about $211,000. 30.97% of the stock is owned by hedge funds and other institutional investors.

Virco Manufacturing Trading Down 0.8%

Shares of Virco Manufacturing stock opened at $7.80 on Thursday. Virco Manufacturing Corporation has a 12-month low of $7.47 and a 12-month high of $17.31. The company has a market cap of $122.93 million, a price-to-earnings ratio of 8.97 and a beta of 0.40. The company has a current ratio of 2.96, a quick ratio of 1.38 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $8.20 and its 200-day moving average price is $8.65.

Virco Manufacturing (NASDAQ:VIRC) last announced its quarterly earnings results on Friday, September 5th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.14). Virco Manufacturing had a return on equity of 12.04% and a net margin of 5.74%.The firm 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 earnings per share for the current fiscal year.

Virco Manufacturing Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Virco Manufacturing to a “hold” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Virco Manufacturing presently has an average rating of “Moderate Buy” and an average target price of $17.00.

About Virco Manufacturing

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.