Insider Selling: Culp Inc. (CFI) CEO Sells 9,000 Shares of Stock
Culp Inc. (NYSE:CFI) CEO Franklin N. Saxon sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $33.84, for a total transaction of $304,560.00. Following the transaction, the chief executive officer now directly owns 94,233 shares of the company’s stock, valued at $3,188,844.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Culp Inc. (NYSE:CFI) traded down 1.17% during mid-day trading on Monday, reaching $33.70. 40,609 shares of the company’s stock were exchanged. The company has a market capitalization of $414.71 million, a PE ratio of 23.90 and a beta of 0.47. The company’s 50-day moving average price is $29.75 and its 200-day moving average price is $29.01. Culp Inc. has a one year low of $22.61 and a one year high of $34.50.
Culp (NYSE:CFI) last posted its earnings results on Tuesday, August 30th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.07. The business had revenue of $80.70 million for the quarter. Culp had a net margin of 5.60% and a return on equity of 18.84%. On average, equities analysts expect that Culp Inc. will post $2.01 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. increased its position in 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 during the period. California State Teachers Retirement System boosted its stake in Culp by 0.9% in the third quarter. California State Teachers Retirement System now owns 22,776 shares of the company’s stock worth $678,000 after buying an additional 200 shares in the last quarter. Rhumbline Advisers boosted its stake in Culp by 2.1% in the third quarter. Rhumbline Advisers now owns 12,385 shares of the company’s stock worth $369,000 after buying an additional 250 shares in the last quarter. Isthmus Partners LLC boosted its stake in Culp by 1.6% in the third quarter. Isthmus Partners LLC now owns 24,681 shares of the company’s stock worth $747,000 after buying an additional 382 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in 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. 84.29% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised shares of Culp from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd.
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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