Virco Mfg. Co. (NASDAQ:VIRC) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC cut its stake in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 15.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 171,186 shares of the company’s stock after selling 32,374 shares during the period. O Shaughnessy Asset Management LLC owned about 1.05% of Virco Mfg. worth $1,755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VIRC. BNP Paribas Financial Markets raised its position in shares of Virco Mfg. by 749.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,619 shares of the company’s stock worth $216,000 after purchasing an additional 13,781 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Virco Mfg. by 129.1% during the third quarter. MetLife Investment Management LLC now owns 6,231 shares of the company’s stock valued at $86,000 after acquiring an additional 3,511 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Virco Mfg. in the third quarter valued at approximately $140,000. Centiva Capital LP acquired a new stake in shares of Virco Mfg. in the third quarter worth approximately $386,000. Finally, State Street Corp increased its position in shares of Virco Mfg. by 22.6% during the third quarter. State Street Corp now owns 170,300 shares of the company’s stock worth $2,356,000 after purchasing an additional 31,415 shares in the last quarter. 30.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on VIRC shares. Wedbush restated an “outperform” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Virco Mfg. in a report on Tuesday, December 10th. StockNews.com raised shares of Virco Mfg. from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th.

Virco Mfg. Price Performance

NASDAQ:VIRC opened at $9.10 on Friday. Virco Mfg. Co. has a one year low of $8.65 and a one year high of $18.50. The stock has a market cap of $148.23 million, a PE ratio of 5.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.70 and a current ratio of 2.88. The stock has a 50 day moving average price of $10.43 and a 200 day moving average price of $12.28.

Virco Mfg. Dividend Announcement

The business 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 is Wednesday, March 26th. This represents a $0.10 annualized dividend and a dividend yield of 1.10%. Virco Mfg.’s dividend payout ratio is presently 6.45%.

Virco Mfg. announced that its board has authorized a stock repurchase plan on Tuesday, January 21st that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally 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.