Culp Inc. (NYSE:CFI) CEO Franklin N. Saxon sold 1,000 shares of Culp stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $29.73, for a total transaction of $29,730.00. Following the sale, the chief executive officer now directly owns 103,733 shares in the company, valued at approximately $3,083,982.09. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Culp Inc. (NYSE:CFI) traded up 0.17% on Wednesday, reaching $29.80. 40,614 shares of the company were exchanged. Culp Inc. has a 52 week low of $22.61 and a 52 week high of $34.30. The company has a market capitalization of $366.72 million, a price-to-earnings ratio of 21.13 and a beta of 0.35. The company’s 50-day moving average is $30.89 and its 200-day moving average is $28.23.
Culp (NYSE:CFI) last released its quarterly earnings results on Tuesday, August 30th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.07. The company had revenue of $80.70 million for the quarter. Culp had a net margin of 5.60% and a return on equity of 18.84%. On average, equities analysts expect that Culp Inc. will post $2.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, September 29th. Culp’s payout ratio is 19.86%.
A number of large investors have recently added to or reduced their stakes 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 during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Culp by 7.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,337 shares of the company’s stock valued at $203,000 after buying an additional 522 shares in the last quarter. Raymond James & Associates increased its stake in shares of Culp by 19.2% in the second quarter. Raymond James & Associates now owns 9,300 shares of the company’s stock valued at $257,000 after buying an additional 1,500 shares in the last quarter. Paradigm Asset Management Co. LLC increased its stake in shares of Culp by 120.9% in the second quarter. Paradigm Asset Management Co. LLC now owns 9,500 shares of the company’s stock valued at $262,000 after buying an additional 5,200 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in shares of Culp by 9.2% in the second quarter. Moors & Cabot Inc. now owns 11,852 shares of the company’s stock valued at $329,000 after buying an additional 1,000 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research lowered shares of Culp from a “hold” rating to a “sell” rating in a research note on Monday, June 20th.
Culp Company Profile
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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