Culp Inc. (NYSE:CFI) Chairman Robert G. Culp III sold 4,194 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $31.53, for a total value of $132,236.82. Following the completion of the sale, the chairman now directly owns 96,434 shares of the company’s stock, valued at $3,040,564.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Culp Inc. (NYSE:CFI) opened at 32.54 on Monday. Culp Inc. has a 12-month low of $22.61 and a 12-month high of $34.30. The company’s 50-day moving average price is $30.37 and its 200 day moving average price is $27.93. The firm has a market capitalization of $400.44 million, a PE ratio of 23.08 and a beta of 0.34.
Culp (NYSE:CFI) last posted 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. Culp had a return on equity of 18.84% and a net margin of 5.60%. The business had revenue of $80.70 million for the quarter. On average, equities analysts forecast that Culp Inc. will post $2.01 earnings per share for the current year.
The company 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 0.86%. The ex-dividend date is Thursday, September 29th. Culp’s dividend payout ratio (DPR) is currently 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 and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in Culp by 2.4% in the first quarter. State Street Corp now owns 176,682 shares of the company’s stock worth $4,632,000 after buying an additional 4,127 shares during the period. Geode Capital Management LLC raised its stake in shares of Culp by 4.1% in the first quarter. Geode Capital Management LLC now owns 61,994 shares of the company’s stock worth $1,625,000 after buying an additional 2,456 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Culp by 7.1% in the first quarter. Royal Bank of Canada now owns 30,729 shares of the company’s stock worth $805,000 after buying an additional 2,049 shares in the last quarter. Foundry Partners LLC raised 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 in the last quarter. Finally, Punch & Associates Investment Management Inc. raised its stake in shares of Culp by 6.9% in the second quarter. Punch & Associates Investment Management Inc. now owns 72,800 shares of the company’s stock worth $2,011,000 after buying an additional 4,700 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.
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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