D.A. Davidson & CO. Sells 30,800 Shares of Virco Mfg. Co. (NASDAQ:VIRC)

D.A. Davidson & CO. lowered its stake in Virco Mfg. Co. (NASDAQ:VIRC) by 23.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,933 shares of the company’s stock after selling 30,800 shares during the quarter. D.A. Davidson & CO. owned approximately 0.63% of Virco Mfg. worth $1,422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in VIRC. D Orazio & Associates Inc. bought a new position in shares of Virco Mfg. in the third quarter valued at approximately $191,000. Victory Capital Management Inc. purchased a new position in shares of Virco Mfg. during the 3rd quarter valued at $226,000. Los Angeles Capital Management LLC bought a new position in shares of Virco Mfg. in the third quarter worth $1,013,000. Principal Financial Group Inc. purchased a new stake in shares of Virco Mfg. in the third quarter worth $194,000. Finally, Janney Montgomery Scott LLC bought a new stake in Virco Mfg. during the third quarter valued at $1,153,000. Hedge funds and other institutional investors own 30.97% of the company’s stock.

Virco Mfg. Price Performance

Virco Mfg. stock opened at $16.42 on Friday. The business has a 50-day simple moving average of $14.68 and a 200 day simple moving average of $14.71. Virco Mfg. Co. has a 52 week low of $6.40 and a 52 week high of $18.50. The stock has a market cap of $267.47 million, a price-to-earnings ratio of 9.95 and a beta of 0.65. The company has a quick ratio of 1.20, a current ratio of 2.26 and a debt-to-equity ratio of 0.04.

Virco Mfg. (NASDAQ:VIRC) last posted its quarterly earnings data on Monday, September 9th. The company reported $1.04 earnings per share for the quarter, topping 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 analysts’ expectations of $115.90 million. On average, research analysts forecast that Virco Mfg. Co. will post 1.93 earnings per share for the current fiscal year.

Virco Mfg. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were issued a dividend of $0.025 per share. This is an increase from Virco Mfg.’s previous quarterly dividend of $0.02. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Friday, September 20th. Virco Mfg.’s payout ratio is currently 6.06%.

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.