Aberdeen Asset Management PLC UK raised its stake in shares of Culp, Inc. (NYSE:CFI) by 25.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,273,928 shares of the textile maker’s stock after buying an additional 254,770 shares during the period. Aberdeen Asset Management PLC UK owned approximately 10.35% of Culp worth $39,747,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Alambic Investment Management L.P. acquired a new stake in shares of Culp during the third quarter valued at approximately $258,000. Sei Investments Co. raised its stake in shares of Culp by 73.7% in the first quarter. Sei Investments Co. now owns 10,725 shares of the textile maker’s stock valued at $335,000 after buying an additional 4,549 shares during the last quarter. Strs Ohio raised its stake in shares of Culp by 15.3% in the first quarter. Strs Ohio now owns 21,100 shares of the textile maker’s stock valued at $658,000 after buying an additional 2,800 shares during the last quarter. Keybank National Association OH raised its stake in shares of Culp by 10.5% in the first quarter. Keybank National Association OH now owns 22,100 shares of the textile maker’s stock valued at $690,000 after buying an additional 2,100 shares during the last quarter. Finally, Confluence Investment Management LLC raised its stake in shares of Culp by 38.6% in the first quarter. Confluence Investment Management LLC now owns 57,596 shares of the textile maker’s stock valued at $1,797,000 after buying an additional 16,036 shares during the last quarter. Institutional investors own 85.45% of the company’s stock.
Shares of Culp, Inc. (NYSE:CFI) traded down 0.48% during midday trading on Friday, hitting $31.35. The company had a trading volume of 34,567 shares. The firm’s 50 day moving average is $32.13 and its 200 day moving average is $33.00. Culp, Inc. has a 52 week low of $26.26 and a 52 week high of $37.80. The company has a market capitalization of $386.04 million, a P/E ratio of 19.84 and a beta of 0.51.
Culp (NYSE:CFI) last posted its quarterly earnings data on Tuesday, February 28th. The textile maker reported $0.47 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.47. Culp had a net margin of 5.85% and a return on equity of 18.91%. The company had revenue of $76.17 million for the quarter, compared to analyst estimates of $77.85 million. Equities research analysts anticipate that Culp, Inc. will post $1.95 EPS for the current year.
Separately, Zacks Investment Research lowered Culp from a “hold” rating to a “sell” rating in a research report on Thursday, March 2nd.
In related news, Chairman Robert G. Culp III sold 24,995 shares of the stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $33.26, for a total value of $831,333.70. Following the sale, the chairman now directly owns 101,294 shares of the company’s stock, valued at approximately $3,369,038.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Boyd Brooks Chumbley sold 1,159 shares of the stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $30.95, for a total transaction of $35,871.05. Following the completion of the sale, the vice president now directly owns 16,531 shares in the company, valued at $511,634.45. The disclosure for this sale can be found here. Insiders sold a total of 103,345 shares of company stock worth $3,332,980 over the last three months. 13.50% of the stock is currently owned by corporate insiders.
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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