California Public Employees Retirement System held its stake in Culp Inc. (NYSE:CFI) during the second quarter, Holdings Channel reports. The firm owned 45,200 shares of the company’s stock at the end of the second quarter. California Public Employees Retirement System owned 0.37% of Culp worth $1,249,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in CFI. California State Teachers Retirement System raised its stake in Culp by 3.4% in the second quarter. California State Teachers Retirement System now owns 22,576 shares of the company’s stock worth $624,000 after buying an additional 732 shares in the last quarter. Bank of Montreal Can purchased a new stake in Culp during the second quarter worth $764,000. 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. 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, Bank of New York Mellon Corp raised its stake in shares of Culp by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 66,569 shares of the company’s stock worth $1,839,000 after buying an additional 1,723 shares in the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.
Shares of Culp Inc. (NYSE:CFI) traded up 1.53% during mid-day trading on Friday, hitting $29.85. 8,862 shares of the stock were exchanged. The stock has a 50-day moving average price of $31.00 and a 200 day moving average price of $28.39. The firm has a market cap of $367.33 million, a price-to-earnings ratio of 21.17 and a beta of 0.35. Culp Inc. has a 52-week low of $22.61 and a 52-week high of $34.30.
Culp (NYSE:CFI) last released its quarterly earnings data on Tuesday, August 30th. The company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.07. Culp had a net margin of 5.60% and a return on equity of 18.84%. The company earned $80.70 million during the quarter. On average, equities research analysts expect that Culp Inc. will post $2.01 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, September 29th. Culp’s dividend payout ratio (DPR) is presently 19.86%.
Separately, Zacks Investment Research lowered shares of Culp from a “hold” rating to a “sell” rating in a research note on Monday, June 20th.
In related news, Director Kenneth R. Larson sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $33.50, for a total value of $335,000.00. Following the completion of the sale, the director now directly owns 12,267 shares of the company’s stock, valued at $410,944.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Boyd Brooks Chumbley sold 8,000 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $32.16, for a total transaction of $257,280.00. Following the completion of the sale, the vice president now directly owns 16,531 shares of the company’s stock, valued at $531,636.96. The disclosure for this sale can be found here. 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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