Virco Mfg. Co. (NASDAQ:VIRC – Get Free Report) declared a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Stockholders of record on Wednesday, March 26th will be paid a dividend of 0.025 per share on Friday, April 11th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, March 26th.
Virco Mfg. Price Performance
Shares of VIRC opened at $9.59 on Monday. The firm has a market capitalization of $156.21 million, a price-to-earnings ratio of 6.19 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. Virco Mfg. has a one year low of $9.08 and a one year high of $18.50. The stock’s fifty day moving average is $10.61 and its 200-day moving average is $12.61.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on VIRC shares. StockNews.com lowered Virco Mfg. from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Wedbush reaffirmed 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.
Virco Mfg. declared that its board has initiated a share repurchase program on Tuesday, January 21st that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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.
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