Culp, Inc. (NYSE:CULP) Short Interest Update

Culp, Inc. (NYSE:CULPGet Rating) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 31,100 shares, an increase of 52.5% from the April 15th total of 20,400 shares. Based on an average daily trading volume, of 43,600 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.3% of the company’s shares are short sold.

A number of hedge funds have recently bought and sold shares of the stock. Brown Advisory Inc. increased its position in Culp by 2.3% during the 1st quarter. Brown Advisory Inc. now owns 549,598 shares of the textile maker’s stock valued at $4,364,000 after buying an additional 12,541 shares in the last quarter. Wasatch Advisors Inc. increased its holdings in shares of Culp by 36.7% in the 3rd quarter. Wasatch Advisors Inc. now owns 501,918 shares of the textile maker’s stock worth $6,465,000 after purchasing an additional 134,744 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Culp by 1.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 457,059 shares of the textile maker’s stock worth $5,885,000 after purchasing an additional 6,188 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Culp by 10.0% in the 1st quarter. BlackRock Inc. now owns 401,826 shares of the textile maker’s stock worth $3,190,000 after purchasing an additional 36,372 shares in the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of Culp by 11.5% in the 3rd quarter. Ancora Advisors LLC now owns 304,299 shares of the textile maker’s stock worth $3,919,000 after purchasing an additional 31,395 shares in the last quarter. 79.72% of the stock is owned by institutional investors.

CULP has been the subject of a number of research analyst reports. Zacks Investment Research cut Culp from a “hold” rating to a “sell” rating in a research note on Tuesday, March 1st. StockNews.com initiated coverage on Culp in a research note on Tuesday, May 10th. They issued a “hold” rating for the company.

CULP opened at $5.89 on Friday. The stock has a market cap of $71.98 million, a PE ratio of 16.83, a PEG ratio of 0.78 and a beta of 1.12. The business has a 50 day moving average of $7.37 and a 200-day moving average of $8.94. Culp has a 52 week low of $5.75 and a 52 week high of $17.75.

Culp (NYSE:CULPGet Rating) last released its earnings results on Wednesday, March 2nd. The textile maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Culp had a net margin of 1.36% and a return on equity of 3.29%. The firm had revenue of $80.29 million during the quarter, compared to analysts’ expectations of $74.76 million. During the same quarter in the previous year, the business earned $0.17 EPS. Sell-side analysts predict that Culp will post -0.14 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 19th. Investors of record on Monday, April 11th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 7.81%. The ex-dividend date was Friday, April 8th. Culp’s dividend payout ratio (DPR) is presently 131.43%.

About Culp (Get Rating)

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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