Franklin N. Saxon Sells 5,000 Shares of Culp Inc. (CFI) Stock
Culp Inc. (NYSE:CFI) CEO Franklin N. Saxon sold 5,000 shares of Culp stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $31.54, for a total transaction of $157,700.00. Following the completion of the sale, the chief executive officer now owns 113,733 shares of the company’s stock, valued at approximately $3,587,138.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Culp Inc. (NYSE:CFI) opened at 29.69 on Friday. Culp Inc. has a one year low of $22.61 and a one year high of $34.30. The stock’s 50 day moving average is $30.75 and its 200 day moving average is $28.09. The firm has a market cap of $365.37 million, a P/E ratio of 21.06 and a beta of 0.34.
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 analysts’ consensus estimates of $0.49 by $0.07. The firm earned $80.70 million during the quarter. Culp had a return on equity of 18.84% and a net margin of 5.60%. On average, equities research analysts expect that Culp Inc. will post $2.01 earnings per share for the current year.
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 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 yield of 0.94%. Culp’s payout ratio is currently 59.57%.
Large investors have recently made changes to their positions in the company. Atlantic Trust Group LLC boosted its stake 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 last quarter. Victory Capital Management Inc. boosted its stake in Culp by 11.5% in the second quarter. Victory Capital Management Inc. now owns 786,303 shares of the company’s stock valued at $21,726,000 after buying an additional 81,098 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its stake in Culp by 48.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 682,543 shares of the company’s stock valued at $18,859,000 after buying an additional 221,854 shares in the last quarter. Vanguard Group Inc. boosted its stake in Culp by 1.3% in the second quarter. Vanguard Group Inc. now owns 429,002 shares of the company’s stock valued at $11,853,000 after buying an additional 5,321 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in Culp by 7.0% in the second quarter. Brown Advisory Inc. now owns 407,770 shares of the company’s stock valued at $11,267,000 after buying an additional 26,526 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research lowered shares of Culp from a “hold” rating to a “sell” rating in a research note on Monday, June 20th.
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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