Sei Investments Co. Sells 47,485 Shares of Virco Mfg. Co. (NASDAQ:VIRC)

Sei Investments Co. trimmed its position in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 69.3% during the 4th quarter, Holdings Channel reports. The firm owned 21,041 shares of the company’s stock after selling 47,485 shares during the period. Sei Investments Co.’s holdings in Virco Mfg. were worth $216,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. IFP Advisors Inc bought a new stake in Virco Mfg. during the fourth quarter valued at about $30,000. Quantbot Technologies LP purchased a new stake in shares of Virco Mfg. during the fourth quarter worth about $70,000. Principal Financial Group Inc. raised its stake in Virco Mfg. by 11.4% during the 4th quarter. Principal Financial Group Inc. now owns 15,656 shares of the company’s stock valued at $160,000 after purchasing an additional 1,604 shares during the period. Rhumbline Advisers lifted its holdings in Virco Mfg. by 11.8% in the 4th quarter. Rhumbline Advisers now owns 16,653 shares of the company’s stock worth $171,000 after purchasing an additional 1,753 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Virco Mfg. in the 3rd quarter worth approximately $180,000. Hedge funds and other institutional investors own 30.97% of the company’s stock.

Virco Mfg. Stock Up 3.0 %

Shares of VIRC stock opened at $10.30 on Friday. The company’s fifty day simple moving average is $10.22 and its two-hundred day simple moving average is $12.05. Virco Mfg. Co. has a 52 week low of $8.52 and a 52 week high of $18.50. The stock has a market cap of $167.78 million, a P/E ratio of 6.65 and a beta of 0.41. The company has a quick ratio of 1.70, a current ratio of 2.88 and a debt-to-equity ratio of 0.03.

Virco Mfg. declared that its board has authorized a stock repurchase plan on Tuesday, January 21st that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Virco Mfg. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Wednesday, March 26th were given a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.97%. Virco Mfg.’s dividend payout ratio is currently 6.45%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Virco Mfg. from a “buy” rating to a “hold” rating in a research report 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.