Culp, Inc. (NYSE:CULP) Short Interest Down 12.4% in January

Culp, Inc. (NYSE:CULP) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 14,100 shares, a decrease of 12.4% from the January 15th total of 16,100 shares. Based on an average trading volume of 40,600 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

NYSE CULP traded down $0.27 on Friday, reaching $11.73. The company had a trading volume of 25,300 shares, compared to its average volume of 36,581. The firm has a market cap of $150.59 million, a price-to-earnings ratio of 26.66 and a beta of 0.57. Culp has a fifty-two week low of $11.70 and a fifty-two week high of $21.08. The business has a 50 day moving average of $13.21 and a two-hundred day moving average of $14.98. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.19 and a quick ratio of 1.84.

Culp (NYSE:CULP) last posted its quarterly earnings data on Thursday, December 5th. The textile maker reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The business had revenue of $72.62 million during the quarter, compared to the consensus estimate of $77.33 million. Culp had a return on equity of 3.38% and a net margin of 1.83%. As a group, research analysts predict that Culp will post 0.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Wednesday, January 8th were issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 3.58%. This is an increase from Culp’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, January 7th. Culp’s dividend payout ratio is presently 102.44%.

CULP has been the subject of a number of recent research reports. Zacks Investment Research upgraded Culp from a “sell” rating to a “hold” rating in a report on Monday, November 11th. ValuEngine upgraded Culp from a “hold” rating to a “buy” rating in a report on Friday, January 3rd.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its holdings in Culp by 308.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,332 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 1,761 shares during the period. US Bancorp DE grew its holdings in Culp by 101.4% during the 4th quarter. US Bancorp DE now owns 2,441 shares of the textile maker’s stock worth $33,000 after acquiring an additional 1,229 shares during the period. Acadian Asset Management LLC acquired a new stake in Culp during the 4th quarter worth about $86,000. BW Gestao de Investimentos Ltda. grew its holdings in Culp by 22.0% during the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 6,122 shares of the textile maker’s stock worth $100,000 after acquiring an additional 1,103 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Culp during the 3rd quarter worth about $171,000. Institutional investors and hedge funds own 84.02% of the company’s stock.

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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