Insider Selling: Culp Major Shareholder Sells 6,112 Shares of Stock (CFI)
Culp (NYSE:CFI) major shareholder Robert Culp III sold 6,112 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $20.50, for a total transaction of $125,296.00. Following the transaction, the insider now directly owns 114,738 shares in the company, valued at approximately $2,352,129. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Separately, analysts at Raymond James raised their price target on shares of Culp from $22.00 to $23.50 in a research note to investors on Tuesday, November 26th.
Culp (NYSE:CFI) traded up 0.05% on Thursday, hitting $20.46. 27,997 shares of the company’s stock traded hands. Culp has a one year low of $14.76 and a one year high of $20.51. The stock’s 50-day moving average is $19.92 and its 200-day moving average is $19.00. The company has a market cap of $250.6 million and a price-to-earnings ratio of 19.72.
Culp (NYSE:CFI) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.01. The company had revenue of $70.59 million for the quarter, compared to the consensus estimate of $66.60 million. During the same quarter in the prior year, the company posted $0.31 earnings per share.
The company also recently declared a quarterly dividend, which is scheduled for Monday, January 20th. Shareholders of record on Monday, January 6th will be given a dividend of 0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from Culp’s previous quarterly dividend of $0.04.
Culp, Inc (NYSE:CFI) manufactures, sources and markets mattress fabrics used for covering mattresses and box springs, and upholstery fabrics primarily for use in production of upholstered furniture (residential and commercial).
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