Dimensional Fund Advisors LP Purchases 17,927 Shares of Culp, Inc. (NYSE:CULP)

Dimensional Fund Advisors LP boosted its holdings in shares of Culp, Inc. (NYSE:CULP) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 780,927 shares of the textile maker’s stock after purchasing an additional 17,927 shares during the period. Dimensional Fund Advisors LP owned approximately 6.25% of Culp worth $14,760,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. D. E. Shaw & Co. Inc. lifted its stake in shares of Culp by 4.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 26,675 shares of the textile maker’s stock valued at $504,000 after purchasing an additional 1,112 shares during the period. Northern Trust Corp lifted its stake in shares of Culp by 1.5% in the fourth quarter. Northern Trust Corp now owns 143,781 shares of the textile maker’s stock valued at $2,718,000 after purchasing an additional 2,067 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Culp by 370.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,099 shares of the textile maker’s stock worth $77,000 after acquiring an additional 3,227 shares during the last quarter. Thomson Horstmann & Bryant Inc. raised its position in Culp by 1.5% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 257,886 shares of the textile maker’s stock worth $4,874,000 after acquiring an additional 3,808 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Culp by 23.0% during the fourth quarter. Bessemer Group Inc. now owns 22,500 shares of the textile maker’s stock worth $425,000 after acquiring an additional 4,200 shares during the last quarter. 85.15% of the stock is currently owned by institutional investors.

In other news, insider Thomas Bernard Gallagher, Jr. sold 1,400 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $18.26, for a total value of $25,564.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.70% of the stock is owned by corporate insiders.

Separately, Zacks Investment Research upgraded shares of Culp from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Culp presently has a consensus rating of “Hold” and an average target price of $26.00.

Shares of NYSE:CULP traded up $0.21 on Monday, reaching $19.21. 33,654 shares of the company’s stock were exchanged, compared to its average volume of 38,457. The business has a 50-day simple moving average of $18.16. The company has a market cap of $235.00 million, a price-to-earnings ratio of 46.85 and a beta of 0.50. Culp, Inc. has a fifty-two week low of $16.41 and a fifty-two week high of $27.77.

Culp (NYSE:CULP) last released its quarterly earnings results on Wednesday, June 12th. The textile maker reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.21). The firm had revenue of $70.96 million for 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%. Sell-side analysts forecast that Culp, Inc. will post 0.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Friday, July 5th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, July 3rd. Culp’s dividend payout ratio (DPR) is 97.56%.

Culp Company Profile

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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Institutional Ownership by Quarter for Culp (NYSE:CULP)

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