Eagle Asset Management Inc. raised its stake in Culp, Inc. (NYSE:CFI) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,458 shares of the textile maker’s stock after buying an additional 1,715 shares during the period. Eagle Asset Management Inc.’s holdings in Culp were worth $4,413,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of CFI. Aberdeen Asset Management PLC UK raised its position in shares of Culp by 24.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,019,158 shares of the textile maker’s stock valued at $37,862,000 after buying an additional 199,058 shares during the last quarter. American Century Companies Inc. raised its position in shares of Culp by 73.2% in the first quarter. American Century Companies Inc. now owns 212,250 shares of the textile maker’s stock valued at $6,622,000 after buying an additional 89,682 shares during the last quarter. Thomson Horstmann & Bryant Inc. raised its position in shares of Culp by 55.3% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 190,232 shares of the textile maker’s stock valued at $5,935,000 after buying an additional 67,758 shares during the last quarter. State Street Corp raised its position in shares of Culp by 14.8% in the fourth quarter. State Street Corp now owns 204,584 shares of the textile maker’s stock valued at $7,599,000 after buying an additional 26,388 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in shares of Culp by 38.6% in the first quarter. Confluence Investment Management LLC now owns 57,596 shares of the textile maker’s stock valued at $1,797,000 after buying an additional 16,036 shares during the last quarter. Institutional investors own 85.45% of the company’s stock.
Culp, Inc. (NYSE:CFI) traded down 0.080% on Tuesday, hitting $31.325. The stock had a trading volume of 5,910 shares. The firm has a market cap of $385.74 million, a price-to-earnings ratio of 19.826 and a beta of 0.51. The company’s 50-day moving average price is $32.13 and its 200 day moving average price is $33.11. Culp, Inc. has a one year low of $26.26 and a one year high of $37.80.
Culp (NYSE:CFI) last issued its quarterly earnings results on Tuesday, February 28th. The textile maker reported $0.47 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. The company had revenue of $76.17 million during the quarter, compared to the consensus estimate of $77.85 million. Culp had a return on equity of 18.91% and a net margin of 5.85%. Analysts expect that Culp, Inc. will post $1.95 earnings per share for the current year.
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Separately, Zacks Investment Research lowered Culp from a “hold” rating to a “sell” rating in a research report on Thursday, March 2nd.
In other news, VP Boyd Brooks Chumbley sold 1,159 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $30.95, for a total transaction of $35,871.05. Following the completion of the sale, the vice president now directly owns 16,531 shares in the company, valued at approximately $511,634.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Franklin N. Saxon sold 5,691 shares of the company’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $31.18, for a total value of $177,445.38. Following the sale, the chief executive officer now owns 117,089 shares of the company’s stock, valued at $3,650,835.02. The disclosure for this sale can be found here. Insiders sold a total of 103,345 shares of company stock valued at $3,332,980 over the last quarter. 13.50% of the stock is currently owned by 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.
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