Culp, Inc. (NYSE:CFI) announced a quarterly dividend on Wednesday, August 31st. Investors of record on Monday, October 3rd will be given a dividend of 0.07 per share on Monday, October 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, September 29th.
Shares of Culp (NYSE:CFI) opened at 32.54 on Friday. Culp has a 12-month low of $22.61 and a 12-month high of $34.30. The company has a 50-day moving average price of $30.37 and a 200-day moving average price of $27.93. The firm has a market capitalization of $400.44 million, a P/E ratio of 23.08 and a beta of 0.34.
Culp (NYSE:CFI) last released its quarterly earnings data on Tuesday, August 30th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.07. Culp had a net margin of 5.60% and a return on equity of 18.84%. The business earned $80.70 million during the quarter. Equities analysts predict that Culp will post $2.01 EPS for the current year.
In other Culp news, Director Kenneth R. Larson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $29.51, for a total value of $59,020.00. Following the completion of the transaction, the director now directly owns 20,767 shares of the company’s stock, valued at approximately $612,834.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Franklin N. Saxon sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $31.40, for a total transaction of $314,000.00. Following the completion of the transaction, the chief executive officer now directly owns 123,733 shares of the company’s stock, valued at $3,885,216.20. The disclosure for this sale can be found here. 13.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CFI. American International Group Inc. increased its stake in Culp by 2.5% in the second quarter. American International Group Inc. now owns 6,198 shares of the company’s stock worth $171,000 after buying an additional 151 shares in the last quarter. Raymond James & Associates increased its stake in Culp by 19.2% in the second quarter. Raymond James & Associates now owns 9,300 shares of the company’s stock worth $257,000 after buying an additional 1,500 shares in the last quarter. Paradigm Asset Management Co. LLC increased its stake in Culp by 120.9% in the second quarter. Paradigm Asset Management Co. LLC now owns 9,500 shares of the company’s stock worth $262,000 after buying an additional 5,200 shares in the last quarter. Rhumbline Advisers increased its stake in Culp by 19.4% in the second quarter. Rhumbline Advisers now owns 12,135 shares of the company’s stock worth $335,000 after buying an additional 1,970 shares in the last quarter. Finally, Menta Capital LLC bought a new stake in Culp during the second quarter worth about $388,000. 85.25% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised shares of Culp from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st.
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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