Culp, Inc. (NYSE:CULP)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $22.98 and last traded at $22.80, with a volume of 101 shares. The stock had previously closed at $23.00.
A number of research firms have issued reports on CULP. Zacks Investment Research downgraded Culp from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 19th. ValuEngine upgraded Culp from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. TheStreet downgraded Culp from a “b-” rating to a “c+” rating in a report on Friday, July 6th. Finally, Stifel Nicolaus decreased their price objective on Culp from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 31st.
The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $290.52 million, a PE ratio of 16.17 and a beta of 0.11.
Culp (NYSE:CULP) last posted its quarterly earnings data on Wednesday, August 29th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $71.47 million during the quarter, compared to the consensus estimate of $71.91 million. Culp had a return on equity of 10.56% and a net margin of 5.34%. equities analysts expect that Culp, Inc. will post 1.2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.49%. Culp’s dividend payout ratio (DPR) is 24.16%.
In other news, Director Fred A. Jackson acquired 5,000 shares of the firm’s stock in a transaction on Friday, June 29th. The stock was acquired at an average price of $25.32 per share, for a total transaction of $126,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.70% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of Culp by 24.2% during the second quarter. Victory Capital Management Inc. now owns 1,565,990 shares of the textile maker’s stock valued at $38,445,000 after acquiring an additional 304,645 shares in the last quarter. Atlantic Trust Group LLC bought a new position in shares of Culp during the first quarter valued at $43,121,000. BlackRock Inc. increased its holdings in shares of Culp by 0.8% during the second quarter. BlackRock Inc. now owns 881,478 shares of the textile maker’s stock valued at $21,640,000 after acquiring an additional 6,814 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Culp by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 741,369 shares of the textile maker’s stock valued at $18,201,000 after acquiring an additional 6,459 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Culp by 2.3% during the second quarter. Renaissance Technologies LLC now owns 639,200 shares of the textile maker’s stock valued at $15,692,000 after acquiring an additional 14,100 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.
About Culp (NYSE: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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