Insider Selling: Culp CEO Unloads 3,350 Shares of Stock (CFI)
Culp (NYSE:CFI) CEO Franklin Saxon sold 3,350 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $20.47, for a total value of $68,574.50. Following the completion of the transaction, the chief executive officer now directly owns 75,249 shares in the company, valued at approximately $1,540,347. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Culp (NYSE:CFI) traded down 1.36% during mid-day trading on Monday, hitting $20.38. 26,693 shares of the company’s stock traded hands. Culp has a 52-week low of $14.76 and a 52-week high of $20.66. The stock’s 50-day moving average is $20.04 and its 200-day moving average is $19.03. The company has a market cap of $249.7 million and a P/E ratio of 19.92.
Culp (NYSE:CFI) last announced its earnings results on Tuesday, November 26th. The company reported $0.33 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.31 earnings per share. On average, analysts predict that Culp will post $1.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, January 20th. Investors 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 an increase from Culp’s previous quarterly dividend of $0.04.
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, 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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