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

StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a report issued on Tuesday. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Up 4.0 %

Shares of Culp stock opened at $3.81 on Tuesday. Culp has a 12-month low of $3.62 and a 12-month high of $6.85. The firm has a market capitalization of $47.79 million, a PE ratio of -2.26 and a beta of 1.00. The stock’s fifty day moving average is $4.89 and its 200-day moving average is $5.28.

Insider Transactions at Culp

In other Culp news, CEO Robert George Iv Culp acquired 14,001 shares of Culp stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $4.94 per share, with a total value of $69,164.94. Following the purchase, the chief executive officer now owns 92,030 shares in the company, valued at approximately $454,628.20. The trade was a 17.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Aron R. English bought 20,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were acquired at an average cost of $5.60 per share, for a total transaction of $112,000.00. Following the purchase, the insider now owns 1,859,061 shares in the company, valued at approximately $10,410,741.60. This represents a 1.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 67,403 shares of company stock valued at $345,152 over the last ninety days. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

Institutional investors have recently made changes to their positions in the stock. Wealthedge Investment Advisors LLC acquired a new position in Culp in the 4th quarter valued at approximately $137,000. Citadel Advisors LLC increased its stake in shares of Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after acquiring an additional 7,386 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Culp by 8.4% during the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock worth $3,181,000 after acquiring an additional 42,216 shares in the last quarter. 22NW LP boosted 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 valued at $9,537,000 after purchasing an additional 30,325 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after purchasing an additional 14,634 shares in the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

About Culp

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.