Insider Buying: Culp, Inc. (NYSE:CULP) Major Shareholder Purchases 6,077 Shares of Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 6,077 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $5.05 per share, for a total transaction of $30,688.85. Following the completion of the purchase, the insider now directly owns 1,711,304 shares in the company, valued at $8,642,085.20. This trade represents a 0.36 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Culp Price Performance

Shares of CULP stock traded up $0.09 during trading hours on Wednesday, reaching $5.13. 28,391 shares of the company’s stock were exchanged, compared to its average volume of 20,655. The company’s 50 day moving average is $5.35 and its two-hundred day moving average is $5.46. The company has a market cap of $64.43 million, a P/E ratio of -3.05 and a beta of 1.06. Culp, Inc. has a 1 year low of $4.19 and a 1 year high of $6.85.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Culp in a report on Thursday, March 6th. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its holdings in shares of Culp by 8.4% in the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock valued at $3,181,000 after purchasing an additional 42,216 shares in the last quarter. 22NW LP grew its position in Culp by 1.9% during the fourth quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock worth $9,537,000 after buying an additional 30,325 shares during the period. Wealthedge Investment Advisors LLC purchased a new position in Culp in the fourth quarter valued at about $137,000. Northern Trust Corp lifted its position in shares of Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after acquiring an additional 14,634 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after acquiring an additional 12,830 shares during the period. Institutional investors and hedge funds own 75.05% of the company’s stock.

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 the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.