Culp Inc. (NYSE:CFI) CEO Franklin N. Saxon sold 5,000 shares of Culp stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $29.88, for a total transaction of $149,400.00. Following the completion of the transaction, the chief executive officer now owns 103,733 shares of the company’s stock, valued at approximately $3,099,542.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Culp Inc. (NYSE:CFI) opened at 29.80 on Thursday. The firm has a market cap of $366.72 million, a price-to-earnings ratio of 21.13 and a beta of 0.35. The company has a 50 day moving average of $30.89 and a 200-day moving average of $28.23. Culp Inc. has a one year low of $22.61 and a one year high of $34.30.

Culp (NYSE:CFI) last announced its earnings results on Tuesday, August 30th. The company reported $0.56 earnings per share (EPS) 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 firm had revenue of $80.70 million for the quarter. On average, analysts expect that Culp Inc. will post $2.01 EPS for the current year.

Insider Buying and Selling by Quarter for Culp (NYSE:CFI)

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.94%. Culp’s payout ratio is presently 19.86%.

Several hedge funds and other institutional investors have recently made changes to their positions in CFI. Brown Advisory Inc. raised its position in shares of Culp by 7.0% in the second quarter. Brown Advisory Inc. now owns 407,770 shares of the company’s stock worth $11,267,000 after buying an additional 26,526 shares during the last quarter. Moors & Cabot Inc. increased its stake 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 purchased a new stake in shares of Culp during the second quarter worth $764,000. Victory Capital Management Inc. increased its stake 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 increased its stake 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. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Separately, Zacks Investment Research raised shares of Culp from a “sell” rating to a “hold” rating in a 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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