Culp Inc. (NYSE:CFI) Chairman Robert G. Culp III sold 4,194 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $31.53, for a total value of $132,236.82. Following the completion of the sale, the chairman now directly owns 96,434 shares in the company, valued at approximately $3,040,564.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Culp Inc. (NYSE:CFI) opened at 31.46 on Wednesday. The stock has a market cap of $387.15 million, a price-to-earnings ratio of 22.31 and a beta of 0.34. Culp Inc. has a 12 month low of $22.61 and a 12 month high of $34.30. The firm has a 50-day moving average price of $29.91 and a 200-day moving average price of $27.82.

Culp (NYSE:CFI) last issued its earnings results on Tuesday, August 30th. The company reported $0.56 earnings per share (EPS) for the quarter, beating 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. Equities analysts expect that Culp Inc. will post $2.01 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a $0.07 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.28 dividend on an annualized basis and a yield of 0.89%. Culp’s dividend payout ratio (DPR) is presently 59.57%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atlantic Trust Group LLC boosted its position in shares of Culp by 1.8% in the second quarter. Atlantic Trust Group LLC now owns 1,428,634 shares of the company’s stock worth $39,473,000 after buying an additional 25,000 shares during the period. Victory Capital Management Inc. boosted its position 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. Aberdeen Asset Management PLC UK boosted its position in shares of Culp by 48.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 682,543 shares of the company’s stock worth $18,859,000 after buying an additional 221,854 shares during the period. Vanguard Group Inc. boosted its position in shares of Culp by 1.3% in the second quarter. Vanguard Group Inc. now owns 429,002 shares of the company’s stock worth $11,853,000 after buying an additional 5,321 shares during the period. Finally, Brown Advisory Inc. boosted 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 period. 85.25% of the stock is owned by institutional investors.

Separately, Zacks Investment Research lowered Culp from a “hold” rating to a “sell” rating in a research report on Monday, June 20th.

Culp Company Profile

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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