Culp Inc. (NYSE:CFI) CEO Franklin N. Saxon sold 1,000 shares of the stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $29.73, for a total transaction of $29,730.00. Following the transaction, the chief executive officer now owns 103,733 shares of the company’s stock, valued at approximately $3,083,982.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Culp Inc. (NYSE:CFI) opened at 29.65 on Friday. The company has a market cap of $364.87 million, a price-to-earnings ratio of 21.03 and a beta of 0.35. Culp Inc. has a 12 month low of $22.61 and a 12 month high of $34.30. The firm’s 50-day moving average is $30.90 and its 200-day moving average is $28.24.
Culp (NYSE:CFI) last posted its quarterly earnings results on Tuesday, August 30th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.07. The firm earned $80.70 million during the quarter. Culp had a return on equity of 18.84% and a net margin of 5.60%. On average, analysts anticipate that Culp Inc. will post $2.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, September 29th. Culp’s dividend payout ratio is presently 19.86%.
Several institutional investors have recently bought and sold shares of CFI. Brown Advisory Inc. raised 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. Moors & Cabot Inc. raised its position in shares of Culp by 9.2% in the second quarter. Moors & Cabot Inc. now owns 11,852 shares of the company’s stock worth $329,000 after buying an additional 1,000 shares during the period. Bank of Montreal Can acquired a new position in shares of Culp during the second quarter worth $764,000. Victory Capital Management Inc. raised its position in shares of Culp by 11.5% in the second quarter. Victory Capital Management Inc. now owns 786,303 shares of the company’s stock worth $21,726,000 after buying an additional 81,098 shares during the period. Finally, Royal Bank of Canada raised its position 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 during the period. 85.25% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded shares of Culp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st.
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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