Ancora Advisors LLC Purchases Shares of 83,860 Virco Mfg. Co. (NASDAQ:VIRC)

Ancora Advisors LLC acquired a new position in shares of Virco Mfg. Co. (NASDAQ:VIRC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 83,860 shares of the company’s stock, valued at approximately $917,000. Ancora Advisors LLC owned about 0.51% of Virco Mfg. at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position 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 period. Acadian Asset Management LLC lifted its stake in Virco Mfg. by 47.1% in the first quarter. Acadian Asset Management LLC now owns 260,364 shares of the company’s stock worth $2,843,000 after acquiring an additional 83,405 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Virco Mfg. by 124.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 124,642 shares of the company’s stock worth $1,362,000 after purchasing an additional 69,179 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Virco Mfg. in the first quarter worth $675,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Virco Mfg. by 155.9% during the first quarter. Russell Investments Group Ltd. now owns 33,613 shares of the company’s stock valued at $367,000 after acquiring an additional 20,480 shares in the last quarter. 30.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VIRC has been the topic of a number of analyst reports. StockNews.com cut Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Wedbush reissued an “outperform” rating and set a $19.00 price target (up from $16.00) on shares of Virco Mfg. in a research report on Friday, June 7th.

Virco Mfg. Trading Up 5.7 %

NASDAQ:VIRC traded up $0.95 on Wednesday, reaching $17.60. 311,585 shares of the company’s stock were exchanged, compared to its average volume of 224,080. Virco Mfg. Co. has a 52-week low of $4.34 and a 52-week high of $17.83. The firm has a market capitalization of $285.30 million, a price-to-earnings ratio of 11.03 and a beta of 0.67. The company has a quick ratio of 0.59, a current ratio of 2.30 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $14.38 and a 200-day moving average of $12.15.

Virco Mfg. (NASDAQ:VIRC) last released its quarterly earnings results on Friday, June 7th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.26. Virco Mfg. had a return on equity of 28.41% and a net margin of 9.07%. The business had revenue of $46.74 million during the quarter, compared to analysts’ expectations of $37.70 million. As a group, analysts expect that Virco Mfg. Co. will post 1.86 earnings per share for the current year.

Virco Mfg. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 21st were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, June 21st. Virco Mfg.’s payout ratio is currently 5.13%.

Virco Mfg. 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.