Culp (NYSE:CULP) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Saturday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Performance

Shares of NYSE CULP opened at $5.27 on Friday. The stock has a fifty day moving average of $5.28 and a 200-day moving average of $5.48. The stock has a market cap of $66.19 million, a PE ratio of -3.14 and a beta of 1.06. Culp has a fifty-two week low of $4.20 and a fifty-two week high of $6.85.

Insider Buying and Selling

In related news, CEO Robert George Iv Culp acquired 14,001 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $4.94 per share, for a total transaction of $69,164.94. Following the completion of the transaction, the chief executive officer now owns 92,030 shares in the company, valued at approximately $454,628.20. This trade represents a 17.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Aron R. English bought 20,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of $5.60 per share, with a total value of $112,000.00. Following the completion of the transaction, the insider now owns 1,859,061 shares of the company’s stock, valued at $10,410,741.60. The trade was a 1.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 69,493 shares of company stock valued at $357,337. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

A number of hedge funds have recently made changes to their positions in the stock. 22NW LP lifted its stake 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 purchasing an additional 30,325 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Culp by 8.4% in the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock worth $3,181,000 after buying an additional 42,216 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Culp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock worth $3,156,000 after buying an additional 5,091 shares during the last quarter. Geode Capital Management LLC boosted its stake in Culp by 14.1% in the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after buying an additional 12,830 shares in the last quarter. Finally, Northern Trust Corp grew its position in Culp by 35.2% during the fourth 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 last quarter. 75.05% of the stock is owned by institutional investors.

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.