Culp Inc. (NYSE:CFI) Chairman Robert G. Culp III sold 4,084 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $32.54, for a total transaction of $132,893.36. Following the sale, the chairman now directly owns 96,434 shares of the company’s stock, valued at approximately $3,137,962.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Culp Inc. (NYSE:CFI) opened at 30.84 on Thursday. The company has a 50-day moving average of $30.69 and a 200 day moving average of $28.07. Culp Inc. has a 52-week low of $22.61 and a 52-week high of $34.30. The firm has a market cap of $379.52 million, a P/E ratio of 21.87 and a beta of 0.34.
Culp (NYSE:CFI) last issued its earnings results on Tuesday, August 30th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.07. The company 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, equities analysts expect 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. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.91%. The ex-dividend date is Thursday, September 29th. Culp’s dividend payout ratio is presently 59.57%.
Separately, Zacks Investment Research raised shares of Culp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st.
Institutional investors have recently added to or reduced their stakes in the stock. Atlantic Trust Group LLC boosted its position in Culp by 1.8% in the second quarter. Atlantic Trust Group LLC now owns 1,428,634 shares of the company’s stock valued at $39,473,000 after buying an additional 25,000 shares in the last quarter. Victory Capital Management Inc. boosted its position in Culp by 11.5% in the second quarter. Victory Capital Management Inc. now owns 786,303 shares of the company’s stock valued at $21,726,000 after buying an additional 81,098 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its position in Culp by 48.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 682,543 shares of the company’s stock valued at $18,859,000 after buying an additional 221,854 shares in the last quarter. Vanguard Group Inc. boosted its position in Culp by 1.3% in the second quarter. Vanguard Group Inc. now owns 429,002 shares of the company’s stock valued at $11,853,000 after buying an additional 5,321 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in Culp by 7.0% in the second quarter. Brown Advisory Inc. now owns 407,770 shares of the company’s stock valued at $11,267,000 after buying an additional 26,526 shares in the last quarter. 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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