Culp (NYSE:CULP) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a note issued to investors on Tuesday. The firm set a “hold” rating on the textile maker’s stock.

Culp Stock Down 1.4 %

CULP opened at $5.36 on Tuesday. The firm has a 50-day moving average price of $5.49 and a 200-day moving average price of $5.42. Culp has a twelve month low of $4.25 and a twelve month high of $6.85. The company has a market capitalization of $67.26 million, a price-to-earnings ratio of -3.19 and a beta of 1.16.

Culp (NYSE:CULP) last released its quarterly earnings data on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share for the quarter. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Insider Buying and Selling

In other Culp news, CEO Robert George Iv Culp purchased 8,508 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was purchased at an average price of $5.42 per share, for a total transaction of $46,113.36. Following the transaction, the chief executive officer now owns 78,029 shares in the company, valued at $422,917.18. The trade was a 12.24 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $5.55 per share, with a total value of $27,750.00. Following the acquisition, the insider now directly owns 15,000 shares of the company’s stock, valued at $83,250. This represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 31,495 shares of company stock valued at $167,062. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Culp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC grew its stake in Culp by 36.8% in the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after buying an additional 7,386 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Culp by 49.5% during the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after acquiring an additional 11,929 shares during the last quarter. Northern Trust Corp lifted its holdings 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 worth $330,000 after acquiring an additional 14,634 shares during the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 12,830 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Culp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after acquiring an additional 5,091 shares during the last quarter. 75.05% of the stock is owned by hedge funds and other institutional investors.

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.