Culp, Inc. (NYSE:CULP) Director Acquires $30,520.00 in Stock

Culp, Inc. (NYSE:CULP) Director Kenneth W. Mcallister bought 2,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were bought at an average price of $15.26 per share, with a total value of $30,520.00.

Shares of CULP stock traded down $0.03 on Thursday, hitting $16.38. 8,769 shares of the company’s stock were exchanged, compared to its average volume of 33,748. Culp, Inc. has a 12 month low of $13.09 and a 12 month high of $25.45. The stock has a market cap of $178.14 million, a P/E ratio of 39.95 and a beta of 0.59. The company has a 50 day moving average of $15.55 and a 200 day moving average of $17.99.

Culp (NYSE:CULP) last announced its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). Culp had a return on equity of 3.49% and a net margin of 2.02%. The business had revenue of $74.85 million for the quarter, compared to the consensus estimate of $73.23 million. As a group, analysts predict that Culp, Inc. will post 0.78 EPS for the current fiscal year.



The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, October 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 2.44%. Culp’s dividend payout ratio is currently 97.56%.

Several hedge funds have recently made changes to their positions in CULP. Isthmus Partners LLC acquired a new position in Culp in the 2nd quarter worth about $964,000. Strs Ohio increased its holdings in Culp by 7.4% in the 2nd quarter. Strs Ohio now owns 23,200 shares of the textile maker’s stock worth $440,000 after purchasing an additional 1,600 shares in the last quarter. Martingale Asset Management L P increased its holdings in Culp by 46.4% in the 1st quarter. Martingale Asset Management L P now owns 73,518 shares of the textile maker’s stock worth $1,414,000 after purchasing an additional 23,301 shares in the last quarter. Keeley Teton Advisors LLC increased its holdings in Culp by 25.7% in the 2nd quarter. Keeley Teton Advisors LLC now owns 96,790 shares of the textile maker’s stock worth $1,839,000 after purchasing an additional 19,761 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Culp by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 780,927 shares of the textile maker’s stock worth $14,760,000 after purchasing an additional 17,927 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Several analysts recently weighed in on the company. Raymond James dropped their price objective on Culp from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday. Zacks Investment Research upgraded Culp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, ValuEngine upgraded Culp from a “hold” rating to a “buy” rating in a research report on Tuesday.

About Culp

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for use in the production of bedding products, including mattresses, box springs, foundations, and top of bed components.

Read More: Using the New Google Finance Tool

Receive News & Ratings for Culp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Culp and related companies with MarketBeat.com's FREE daily email newsletter.