Virco Mfg. Co. (NASDAQ:VIRC) Shares Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd grew its position in Virco Mfg. Co. (NASDAQ:VIRC) by 118.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,699 shares of the company’s stock after acquiring an additional 14,455 shares during the period. Dynamic Technology Lab Private Ltd owned about 0.16% of Virco Mfg. worth $273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VIRC. Wells Fargo & Company MN boosted its holdings in Virco Mfg. by 354.0% in the 4th quarter. Wells Fargo & Company MN now owns 22,470 shares of the company’s stock valued at $230,000 after purchasing an additional 17,521 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Virco Mfg. in the 4th quarter valued at approximately $72,000. JPMorgan Chase & Co. boosted its stake in shares of Virco Mfg. by 28.5% in the fourth quarter. JPMorgan Chase & Co. now owns 38,828 shares of the company’s stock valued at $398,000 after buying an additional 8,607 shares in the last quarter. WINTON GROUP Ltd grew its holdings in Virco Mfg. by 34.5% during the fourth quarter. WINTON GROUP Ltd now owns 98,360 shares of the company’s stock worth $1,008,000 after acquiring an additional 25,212 shares during the period. Finally, American Century Companies Inc. raised its position in Virco Mfg. by 15.4% in the fourth quarter. American Century Companies Inc. now owns 453,107 shares of the company’s stock worth $4,644,000 after acquiring an additional 60,403 shares in the last quarter. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Virco Mfg. Price Performance

VIRC stock opened at $10.00 on Friday. The firm has a 50 day moving average of $10.24 and a 200-day moving average of $12.08. The company has a market cap of $162.89 million, a price-to-earnings ratio of 6.45 and a beta of 0.41. The company has a current ratio of 2.88, a quick ratio of 1.70 and a debt-to-equity ratio of 0.03. Virco Mfg. Co. has a 12-month low of $8.52 and a 12-month high of $18.50.

Virco Mfg. declared that its board has initiated a stock repurchase program on Tuesday, January 21st that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Virco Mfg. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Wednesday, March 26th will be given a dividend of $0.025 per share. The ex-dividend date is Wednesday, March 26th. This represents a $0.10 dividend on an annualized basis and a yield of 1.00%. Virco Mfg.’s payout ratio is 6.45%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Virco Mfg. from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th.

About Virco Mfg.

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.