Three directors and executives of Culp Inc., have sold $1.05 million worth of stock this week, according to the Securities and Exchange Commission.

This follows the sale of $1.1 million worth of stock last week by Culp executives.

Culp, a High Point-based producer of mattress fabrics and marketer of upholstery fabrics for furniture, had seen its stock prices climb steadily since the beginning of the year. On Sept.6, shares of Culp closed at $33.7, a 34.7 percent increase compared with price of Culp shares on Jan. 4, which was $25.02.

However, in the recent two weeks, share prices of Culp dropped sharply, decreasing from $33.70 on Sept. 6 to $31.25 on Sept. 14, a 7.3 percent plunge.

Robert Culp, chairman of the board, sold 4,200 shares of common stock at $32.86 on Sept. 12 and an additional 4,360 shares at $31.84 on Sept. 13 for a total value of $276,834, according to a Form 4 filing.

Franklin Saxon, chief executive officer, sold 6,500 shares of common stock at $32.66 on Sept. 12 and an additional 3,500 shares of common stock at 31.84 on Sept. 13, with a total value of $323,730, according to a Form 4 filing.

Previously, he sold 1,000 shares at $33.15 on Sept. 8 and an additional 5,000 shares at $32.77 on Sept. 9, with a total value of $197,000, according to another Form 4 filing.

Brooks Chumbley, executive vice president of upholstery fabric, sold 8,000 shares at $32.16 on Sept. 12 for $257,280, according to a Form 4 filing.

Last week, Culp, along with three other executives of the company, have sold $1.1 million worth of stock, according to four individual Form 4 filings on Sept. 9.

The company had 13 manufacturing plants and distribution facilities located in the U.S., Canada and China.

Shares of Culp closed at $31.25 on Wednesday, a 1.85 percent drop compared with the previous trading day.