Franklin N. Saxon Sells 2,000 Shares of Culp Inc. (CFI) Stock
Culp Inc. (NYSE:CFI) CEO Franklin N. Saxon sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $33.36, for a total transaction of $66,720.00. Following the transaction, the chief executive officer now owns 97,733 shares of the company’s stock, valued at $3,260,372.88. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Culp Inc. (NYSE:CFI) opened at 34.10 on Monday. The firm’s 50-day moving average is $29.75 and its 200 day moving average is $29.01. Culp Inc. has a 12-month low of $22.61 and a 12-month high of $34.30. The stock has a market capitalization of $419.63 million, a P/E ratio of 24.18 and a beta of 0.47.
Culp (NYSE:CFI) last announced its quarterly earnings results on Tuesday, August 30th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the 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 research analysts anticipate that Culp Inc. will post $2.01 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the stock. Foundry Partners LLC increased its position in shares of Culp by 391.7% in the second quarter. Foundry Partners LLC now owns 64,365 shares of the company’s stock valued at $1,778,000 after buying an additional 51,275 shares during the period. Punch & Associates Investment Management Inc. increased its position in shares of Culp by 6.9% in the second quarter. Punch & Associates Investment Management Inc. now owns 72,800 shares of the company’s stock valued at $2,011,000 after buying an additional 4,700 shares during the period. James Investment Research Inc. increased its position in shares of Culp by 31.5% in the second quarter. James Investment Research Inc. now owns 102,125 shares of the company’s stock valued at $2,822,000 after buying an additional 24,470 shares during the period. Eagle Asset Management Inc. purchased a new position in shares of Culp during the second quarter valued at about $4,834,000. Finally, Bank of Montreal Can purchased a new position in shares of Culp during the second quarter valued at about $764,000. 84.29% of the stock is owned by institutional investors.
Separately, Zacks Investment Research upgraded shares of Culp from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st.
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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