Culp Inc. (CFI) Shares Up 3.6%
Culp Inc. (NYSE:CFI) shot up 3.6% during mid-day trading on Monday . The stock traded as high as $29.26 and last traded at $28.75, with a volume of 53,692 shares trading hands. The stock had previously closed at $27.76.
Several brokerages have recently weighed in on CFI. Zacks Investment Research downgraded Culp from a “hold” rating to a “sell” rating in a report on Monday, June 20th. Topeka Capital Markets began coverage on Culp in a report on Monday, May 23rd. They issued a “hold” rating and a $26.00 price target on the stock.
The company has a 50-day moving average of $28.07 and a 200-day moving average of $26.16. The stock has a market cap of $352.62 million and a P/E ratio of 21.14.
Culp (NYSE:CFI) last posted its quarterly earnings data on Wednesday, June 15th. The company reported $0.47 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. The firm had revenue of $77.30 million for the quarter. Analysts predict that Culp Inc. will post $1.96 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, June 29th. This represents a $0.28 annualized dividend and a yield of 0.97%.
In other news, Director Fred A. Jackson acquired 2,000 shares of the business’s stock in a transaction on Monday, June 20th. The stock was bought at an average cost of $28.40 per share, for a total transaction of $56,800.00. Following the purchase, the director now owns 3,000 shares in the company, valued at $85,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth R. Larson sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $29.50, for a total value of $29,500.00. Following the sale, the director now owns 22,767 shares of the company’s stock, valued at $671,626.50. The disclosure for this sale can be found here.
Other large investors have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. raised its stake in Culp by 4.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 58,380 shares of the company’s stock valued at $1,487,000 after buying an additional 2,680 shares during the period. Opus Capital Group LLC raised its stake in Culp by 6.4% in the fourth quarter. Opus Capital Group LLC now owns 61,353 shares of the company’s stock valued at $1,563,000 after buying an additional 3,700 shares during the period. Aberdeen Asset Management PLC UK boosted its position in shares of Culp by 142.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 287,388 shares of the company’s stock valued at $8,734,000 after buying an additional 168,788 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Culp by 55.7% in the fourth quarter. Victory Capital Management Inc. now owns 533,498 shares of the company’s stock valued at $13,589,000 after buying an additional 190,881 shares in the last quarter.
Culp, Inc is a producer of mattress fabrics 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. It operates through two segments: mattress fabrics (Culp Home Fashions) and upholstery fabrics.
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