Culp Inc. (NYSE:CFI) Chairman Robert G. Culp III sold 4,084 shares of Culp stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $32.54, for a total value of $132,893.36. Following the transaction, the chairman now directly owns 96,434 shares of the company’s stock, valued at $3,137,962.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Culp Inc. (NYSE:CFI) opened at 31.48 on Wednesday. The company’s 50-day moving average price is $30.60 and its 200 day moving average price is $28.05. Culp Inc. has a one year low of $22.61 and a one year high of $34.30. The firm has a market capitalization of $387.39 million, a PE ratio of 22.33 and a beta of 0.34.
Culp (NYSE:CFI) last announced its quarterly earnings results on Tuesday, August 30th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.07. The business had revenue of $80.70 million for the quarter. Culp had a return on equity of 18.84% and a net margin of 5.60%. On average, analysts forecast that Culp Inc. will post $2.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, September 29th. Culp’s payout ratio is 59.57%.
Separately, Zacks Investment Research cut Culp from a “hold” rating to a “sell” rating in a report on Monday, June 20th.
Hedge funds have recently made changes to their positions in the company. Aberdeen Asset Management PLC UK boosted its stake in shares of Culp by 48.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 682,543 shares of the company’s stock worth $18,859,000 after buying an additional 221,854 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Culp during the second quarter worth $4,834,000. Victory Capital Management Inc. boosted its stake in shares of Culp by 11.5% in the second quarter. Victory Capital Management Inc. now owns 786,303 shares of the company’s stock worth $21,726,000 after buying an additional 81,098 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of Culp by 391.7% in the second quarter. Foundry Partners LLC now owns 64,365 shares of the company’s stock worth $1,778,000 after buying an additional 51,275 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Culp during the second quarter worth $764,000. Institutional investors and hedge funds own 85.25% of the company’s stock.
Culp, Inc is a producer of mattress fabrics and marketer of upholstery fabrics for furniture in North America. The Company is engaged in the manufacture, sourcing and marketing of mattress fabrics and sewn covers used for covering mattresses and box springs, and upholstery fabrics, including cut and sewn kits used in production of upholstered furniture.
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