Virco Mfg. Co. (NASDAQ:VIRC) Shares Purchased by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC lifted its stake in Virco Mfg. Co. (NASDAQ:VIRC) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,208 shares of the company’s stock after purchasing an additional 5,935 shares during the period. Koss Olinger Consulting LLC owned approximately 0.34% of Virco Mfg. worth $566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Minerva Advisors LLC lifted its stake in shares of Virco Mfg. by 5.5% in the fourth quarter. Minerva Advisors LLC now owns 1,162,589 shares of the company’s stock valued at $11,870,000 after purchasing an additional 60,900 shares during the period. Geode Capital Management LLC lifted its stake in shares of Virco Mfg. by 2.9% in the third quarter. Geode Capital Management LLC now owns 240,844 shares of the company’s stock valued at $3,327,000 after purchasing an additional 6,710 shares during the period. State Street Corp increased its holdings in Virco Mfg. by 22.6% during the 3rd quarter. State Street Corp now owns 170,300 shares of the company’s stock valued at $2,356,000 after acquiring an additional 31,415 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Virco Mfg. by 311.6% during 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 in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Virco Mfg. by 42.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 104,235 shares of the company’s stock valued at $1,068,000 after acquiring an additional 30,880 shares in the last quarter. Institutional investors and hedge funds own 30.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on VIRC shares. Wedbush restated an “outperform” rating and set a $17.00 target price (down from $20.00) on shares of Virco Mfg. in a report on Tuesday, December 10th. StockNews.com upgraded shares of Virco Mfg. from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th.

Virco Mfg. Stock Performance

NASDAQ:VIRC opened at $9.78 on Wednesday. The company has a market capitalization of $159.31 million, a P/E ratio of 6.31 and a beta of 0.76. Virco Mfg. Co. has a twelve month low of $9.08 and a twelve month high of $18.50. 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 50-day moving average price of $10.59 and a two-hundred day moving average price of $12.71.

Virco Mfg. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Wednesday, March 26th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, March 26th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.02%. Virco Mfg.’s dividend payout ratio (DPR) is presently 6.45%.

Virco Mfg. announced that its Board of Directors has approved a share repurchase program on Tuesday, January 21st that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.