Dynamic Technology Lab Private Ltd Grows Holdings in Virco Mfg. Co. (NASDAQ:VIRC)

Dynamic Technology Lab Private Ltd lifted its position in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 118.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 26,699 shares of the company’s stock after buying an additional 14,455 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Virco Mfg. were worth $273,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets boosted its position in Virco Mfg. by 749.8% during the third quarter. BNP Paribas Financial Markets now owns 15,619 shares of the company’s stock worth $216,000 after acquiring an additional 13,781 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Virco Mfg. during the 3rd quarter worth $140,000. State Street Corp boosted its holdings 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 during the last quarter. XTX Topco Ltd purchased a new stake in shares of Virco Mfg. in the third quarter valued at $180,000. Finally, Barclays PLC grew its position in shares of Virco Mfg. by 25.8% in the third quarter. Barclays PLC now owns 14,445 shares of the company’s stock valued at $200,000 after purchasing an additional 2,961 shares during the period. Institutional investors and hedge funds own 30.97% of the company’s stock.

Virco Mfg. Price Performance

Virco Mfg. stock opened at $10.00 on Friday. 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 company has a market cap of $162.89 million, a price-to-earnings ratio of 6.45 and a beta of 0.41. Virco Mfg. Co. has a 1 year low of $8.52 and a 1 year high of $18.50. The firm has a 50 day moving average price of $10.24 and a 200 day moving average price of $12.08.

Virco Mfg. announced that its board has initiated a share buyback plan on Tuesday, January 21st that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Virco Mfg. Announces Dividend

The company also recently disclosed 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 1.00%. Virco Mfg.’s payout ratio is 6.45%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Virco Mfg. from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th.

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.