Inspire Advisors LLC Takes Position in Virco Mfg. Co. (NASDAQ:VIRC)

Inspire Advisors LLC acquired a new stake in shares of Virco Mfg. Co. (NASDAQ:VIRC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,443 shares of the company’s stock, valued at approximately $572,000. Inspire Advisors LLC owned about 0.25% of Virco Mfg. at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VIRC. Vanguard Group Inc. grew its holdings in shares of Virco Mfg. by 78.2% during the first quarter. Vanguard Group Inc. now owns 477,218 shares of the company’s stock valued at $5,216,000 after buying an additional 209,366 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Virco Mfg. by 67.1% during the second quarter. Acadian Asset Management LLC now owns 435,068 shares of the company’s stock valued at $6,060,000 after buying an additional 174,704 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Virco Mfg. by 32.2% during the second quarter. Renaissance Technologies LLC now owns 399,130 shares of the company’s stock valued at $5,564,000 after buying an additional 97,300 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Virco Mfg. by 45.2% during the second quarter. American Century Companies Inc. now owns 276,298 shares of the company’s stock valued at $3,852,000 after buying an additional 85,962 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new stake in shares of Virco Mfg. during the first quarter valued at $917,000. 30.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Virco Mfg. from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th.

Virco Mfg. Price Performance

NASDAQ:VIRC opened at $14.82 on Friday. Virco Mfg. Co. has a one year low of $5.82 and a one year high of $18.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.20 and a current ratio of 2.26. The firm has a market cap of $241.42 million, a price-to-earnings ratio of 8.98 and a beta of 0.64. The firm’s fifty day moving average is $14.92 and its two-hundred day moving average is $13.89.

Virco Mfg. (NASDAQ:VIRC) last posted its quarterly earnings results on Monday, September 9th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. The company had revenue of $108.42 million for the quarter, compared to analyst estimates of $115.90 million. Research analysts expect that Virco Mfg. Co. will post 1.93 EPS 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 of this dividend was Friday, September 20th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.67%. This is an increase from Virco Mfg.’s previous quarterly dividend of $0.02. Virco Mfg.’s dividend payout ratio is 6.06%.

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.