Thomas Bernard Gallagher, Jr. Sells 1,400 Shares of Culp, Inc. (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP) insider Thomas Bernard Gallagher, Jr. sold 1,400 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $18.26, for a total value of $25,564.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

NYSE:CULP opened at $18.59 on Thursday. The stock has a 50 day moving average price of $18.20. The company has a market cap of $228.07 million, a P/E ratio of 45.34 and a beta of 0.43. Culp, Inc. has a 1-year low of $16.41 and a 1-year high of $27.77.

Culp (NYSE:CULP) last released its earnings results on Wednesday, June 12th. The textile maker reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.21). The firm had revenue of $70.96 million during the quarter, compared to the consensus estimate of $70.29 million. Culp had a return on equity of 4.45% and a net margin of 1.91%. As a group, sell-side analysts forecast that Culp, Inc. will post 0.87 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Friday, July 5th will be given a $0.10 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 2.15%. Culp’s payout ratio is 97.56%.

A number of large investors have recently added to or reduced their stakes in CULP. BNP Paribas Arbitrage SA lifted its position in Culp by 509.9% in the first quarter. BNP Paribas Arbitrage SA now owns 2,336 shares of the textile maker’s stock valued at $45,000 after purchasing an additional 1,953 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Culp by 370.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,099 shares of the textile maker’s stock valued at $77,000 after purchasing an additional 3,227 shares during the last quarter. SG Americas Securities LLC bought a new stake in Culp in the first quarter valued at approximately $155,000. Rhumbline Advisers lifted its position in Culp by 43.1% in the fourth quarter. Rhumbline Advisers now owns 15,989 shares of the textile maker’s stock valued at $302,000 after purchasing an additional 4,812 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in Culp by 41.7% in the fourth quarter. Two Sigma Investments LP now owns 20,616 shares of the textile maker’s stock valued at $390,000 after purchasing an additional 6,069 shares during the last quarter. Institutional investors own 85.15% of the company’s stock.

A number of analysts recently weighed in on CULP shares. Zacks Investment Research upgraded Culp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Raymond James upgraded Culp from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Culp presently has an average rating of “Hold” and a consensus price target of $26.00.

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.

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