Bank of New York Mellon Corp raised its stake in Culp Inc. (NYSE:CFI) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,569 shares of the company’s stock after buying an additional 1,723 shares during the period. Bank of New York Mellon Corp owned about 0.54% of Culp worth $1,839,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of CFI. Bank of Montreal Can acquired a new position in Culp during the second quarter valued at approximately $764,000. Royal Bank of Canada boosted its position in Culp by 7.1% in the first quarter. Royal Bank of Canada now owns 30,729 shares of the company’s stock valued at $805,000 after buying an additional 2,049 shares during the last quarter. Geode Capital Management LLC boosted its position in Culp by 4.1% in the first quarter. Geode Capital Management LLC now owns 61,994 shares of the company’s stock valued at $1,625,000 after buying an additional 2,456 shares during the last quarter. Foundry Partners LLC boosted its position in 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 last quarter. Finally, Punch & Associates Investment Management Inc. boosted its position in 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 last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.
Shares of Culp Inc. (NYSE:CFI) traded down 0.17% during midday trading on Friday, reaching $29.60. The company’s stock had a trading volume of 37,286 shares. The company’s 50-day moving average price is $30.91 and its 200-day moving average price is $28.27. The company has a market cap of $364.26 million, a PE ratio of 20.99 and a beta of 0.35. Culp Inc. has a 12 month low of $22.61 and a 12 month high of $34.30.
Culp (NYSE:CFI) last announced its earnings results on Tuesday, August 30th. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.07. Culp had a return on equity of 18.84% and a net margin of 5.60%. The company had revenue of $80.70 million for the quarter. On average, equities analysts anticipate that Culp Inc. will post $2.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.28 dividend on an annualized basis and a yield of 0.95%. Culp’s dividend payout ratio is currently 19.86%.
Separately, Zacks Investment Research cut Culp from a “hold” rating to a “sell” rating in a research report on Monday, June 20th.
In other Culp news, Director Kenneth R. Larson sold 2,000 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $29.51, for a total value of $59,020.00. Following the completion of the sale, the director now owns 20,767 shares in the company, valued at approximately $612,834.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert George Iv Culp sold 4,979 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $33.63, for a total value of $167,443.77. Following the completion of the sale, the insider now owns 23,005 shares of the company’s stock, valued at approximately $773,658.15. The disclosure for this sale can be found here. 13.50% of the stock is owned by corporate insiders.
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.