Culp, Inc. (NYSE:CULP) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 16,100 shares, a decrease of 49.5% from the December 31st total of 31,900 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 38,000 shares, the days-to-cover ratio is currently 0.4 days.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Culp by 3.7% during the second quarter. Vanguard Group Inc. now owns 597,363 shares of the textile maker’s stock valued at $11,350,000 after purchasing an additional 21,298 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Culp by 10.0% during the second quarter. Nuveen Asset Management LLC now owns 430,104 shares of the textile maker’s stock valued at $8,171,000 after purchasing an additional 38,982 shares in the last quarter. Keeley Teton Advisors LLC raised its stake in Culp by 186.8% during the third quarter. Keeley Teton Advisors LLC now owns 277,630 shares of the textile maker’s stock valued at $4,525,000 after purchasing an additional 180,840 shares in the last quarter. State Street Corp raised its stake in Culp by 1.0% during the third quarter. State Street Corp now owns 220,871 shares of the textile maker’s stock valued at $3,600,000 after purchasing an additional 2,261 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Culp by 3.4% during the second quarter. Northern Trust Corp now owns 141,808 shares of the textile maker’s stock valued at $2,694,000 after purchasing an additional 4,709 shares in the last quarter. 84.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CULP stock traded down $0.29 during mid-day trading on Tuesday, hitting $12.53. The company had a trading volume of 31,300 shares, compared to its average volume of 40,556. Culp has a 52-week low of $12.50 and a 52-week high of $21.08. The stock’s 50 day moving average price is $14.00 and its 200-day moving average price is $15.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.19 and a quick ratio of 1.84. The company has a market capitalization of $160.61 million, a P/E ratio of 28.48 and a beta of 0.59.

Culp (NYSE:CULP) last released its earnings results on Thursday, December 5th. The textile maker reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. Culp had a net margin of 1.83% and a return on equity of 3.38%. The firm had revenue of $72.62 million for the quarter, compared to the consensus estimate of $77.33 million. On average, equities research analysts expect that Culp will post 0.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Wednesday, January 8th were issued a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Tuesday, January 7th. This is an increase from Culp’s previous quarterly dividend of $0.10. Culp’s payout ratio is 102.44%.

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

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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