Quarry LP Buys 7,835 Shares of Virco Mfg. Co. (NASDAQ:VIRC)

Quarry LP raised its stake in Virco Mfg. Co. (NASDAQ:VIRC) by 810.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,802 shares of the company’s stock after acquiring an additional 7,835 shares during the quarter. Quarry LP owned about 0.05% of Virco Mfg. worth $90,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of VIRC. Bank of New York Mellon Corp raised its holdings in Virco Mfg. by 311.6% in the 4th quarter. Bank of New York Mellon Corp now owns 145,530 shares of the company’s stock valued at $1,492,000 after acquiring an additional 110,173 shares during the period. Quartz Partners LLC bought a new position in shares of Virco Mfg. during the fourth quarter worth approximately $883,000. Minerva Advisors LLC increased its holdings in shares of Virco Mfg. by 5.5% during the fourth quarter. Minerva Advisors LLC now owns 1,162,589 shares of the company’s stock worth $11,870,000 after purchasing an additional 60,900 shares during the period. American Century Companies Inc. increased its holdings in shares of Virco Mfg. by 15.4% during the fourth quarter. American Century Companies Inc. now owns 453,107 shares of the company’s stock worth $4,644,000 after purchasing an additional 60,403 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Virco Mfg. by 9.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 684,378 shares of the company’s stock worth $7,015,000 after purchasing an additional 58,753 shares during the period. 30.97% of the stock is owned by institutional investors.

Virco Mfg. Stock Performance

NASDAQ VIRC opened at $9.31 on Wednesday. The company has a current ratio of 2.88, a quick ratio of 1.70 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $149.77 million, a price-to-earnings ratio of 6.01 and a beta of 0.41. The firm’s 50 day simple moving average is $9.84 and its 200 day simple moving average is $11.72. Virco Mfg. Co. has a 1 year low of $8.52 and a 1 year high of $18.50.

Virco Mfg. (NASDAQ:VIRC) last posted its quarterly earnings results on Monday, April 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.20). The firm had revenue of $28.47 million for the quarter, compared to analyst estimates of $43.00 million. Virco Mfg. had a return on equity of 24.63% and a net margin of 8.93%. As a group, research analysts expect that Virco Mfg. Co. will post 1.54 earnings per share for the current fiscal year.

Virco Mfg. announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 21st that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Virco Mfg. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Wednesday, March 26th were given a dividend of $0.025 per share. The ex-dividend date was Wednesday, March 26th. This represents a $0.10 annualized dividend and a dividend yield of 1.07%. Virco Mfg.’s dividend payout ratio is 7.46%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Virco Mfg. from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd.

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.