Culp, Inc. Common Stock (NYSE:CFI) has been the object of insider selling activity recently. Franklin N. Saxon, CEO reported the sale of 10,000 shares of CFI stock. The shares sold for $31.54. Saxon now owns $3,429,439 of the stock per the Form 4 SEC filing. Today Robert G. Iii Culp, Chairman disclosed the sale of 4,084 shares of (CFI). The shares were sold on September 23rd for an average price of $32.54. The Chairman now owns $0 of the stock according to the SEC filing.
Director Kenneth R. Larson sold 10,000 shares at a price of $33.39 on Thu the 8th. Larson now owns $359,510 of stock as reported to the SEC.
These firms have also modified their investment in CFI. As of quarter end Royal Bank Of Canada had sold 1,105 shares trimming its position 67.6%. The value of the investment in (CFI) decreased from $43,000 to $15,000 decreasing 65.1% since the last quarter. As of the end of the quarter Schwab Charles Investment Management Inc had acquired a total of 11,464 shares growing its holdings by 27.5%. The value of the investment in Culp, Inc. Common Stock went from $1,064,000 to $1,471,000 a change of $407,000 for the reporting period.
American Century Companies Inc downsized its investment by selling 159,399 shares a decrease of 32.8% as of 06/30/2016. American Century Companies Inc claims 326,774 shares valued at $9,029,000. The total value of its holdings decreased 29.2%. Metropolitan Life Insurance Co/ny added to its holdings by buying 522 shares an increase of 7.7%. Metropolitan Life Insurance Co/ny now holds 7,337 shares with a value of $203,000. The value of the position overall is up by 13.4%.
On May 24 analysts at Topeka Capital issued its first research report on the stock with an initial rating of “Hold” and a price target of $26.00. Cantor Fitzgerald added CFI to its research portfolio setting a rating of “Hold” and price target of $31.00.
On September 4 Stifel Nicolaus maintained a company rating of “Buy” and raised the price expectation to $35.00 from $32.00. April 10 investment analysts at Stifel Nicolaus kept the company rating at “Buy” but moved up the price target from $26.00 to $30.00.
On March 17 the stock rating was downgraded from “Outperform” to “Market Perform” by Raymond James. On December 5 Stifel Nicolaus maintained a stock rating of “Buy” and raised the price target to $26.00 from $21.00.
The company is so far trading down by -2.29 percent from yesterday’s close. Culp, Inc. Common Stock also announced a dividend for shareholders that was paid on Friday July 15th, 2016. The dividend was $0.070 per share for the quarter which comes to $0.28 on an annualized basis. This dividend represents a yield of $0.86. The ex-dividend date was Wednesday the 29th of June 2016.
It is currently trading at $30.76 marginally over the 50 day moving average of $30.60 and which is just a bit higher than the 200 day moving average of $28.05. The 50 day moving average was up by +1.35% and the 200 day average was up $2.96.
The most current P/E ratio is 21.99 and the market value is 381.61M. In the last earnings report the EPS was $1.41 and is expected to be $2.01 for the current year with 12,306,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.49 and the next full year EPS is projected to be $2.09.