Franklin N. Saxon Sells 10,000 Shares of Culp Inc. (CFI) Stock
Culp Inc. (NYSE:CFI) CEO Franklin N. Saxon sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $31.40, for a total transaction of $314,000.00. Following the completion of the sale, the chief executive officer now directly owns 123,733 shares of the company’s stock, valued at $3,885,216.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Culp Inc. (NYSE:CFI) opened at 31.46 on Wednesday. The company has a 50 day moving average of $29.91 and a 200-day moving average of $27.82. The company has a market capitalization of $387.15 million, a P/E 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.
Culp (NYSE:CFI) last announced its quarterly earnings data on Tuesday, August 30th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. On average, equities analysts anticipate that Culp Inc. will post $2.01 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, September 29th. Culp’s dividend payout ratio is 59.57%.
Institutional investors have recently made changes to their positions in the stock. American International Group Inc. boosted its position in shares of Culp by 2.5% in the second quarter. American International Group Inc. now owns 6,198 shares of the company’s stock worth $171,000 after buying an additional 151 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Culp by 7.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,337 shares of the company’s stock worth $203,000 after buying an additional 522 shares in the last quarter. Raymond James & Associates boosted its position in shares of Culp by 19.2% in the second quarter. Raymond James & Associates now owns 9,300 shares of the company’s stock worth $257,000 after buying an additional 1,500 shares in the last quarter. Paradigm Asset Management Co. LLC boosted its position in shares of Culp by 120.9% in the second quarter. Paradigm Asset Management Co. LLC now owns 9,500 shares of the company’s stock worth $262,000 after buying an additional 5,200 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position 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 in the last quarter. 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 research note on Wednesday, August 31st.
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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