Culp (NYSE:CULP) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Culp (NYSE:CULP) in a research report report published on Thursday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Price Performance

Shares of NYSE:CULP opened at $4.30 on Thursday. The company has a market cap of $54.04 million, a P/E ratio of -2.56 and a beta of 1.16. Culp has a 1 year low of $4.20 and a 1 year high of $6.85. The stock’s fifty day moving average price is $5.42 and its 200-day moving average price is $5.45.

Culp (NYSE:CULP) last announced its quarterly earnings results on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share (EPS) 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 at Culp

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

Institutional Trading of Culp

A number of hedge funds and other institutional investors have recently bought and sold shares of CULP. Ameriprise Financial Inc. increased its position in Culp by 8.4% in the fourth 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 in the last quarter. 22NW LP grew its position in shares of 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 in the last quarter. Northern Trust Corp grew its position in shares of Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after purchasing an additional 14,634 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Culp by 14.1% during the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after purchasing an additional 12,830 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Culp by 49.5% during the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after purchasing an additional 11,929 shares in the last quarter. Hedge funds and other institutional investors own 75.05% of the company’s stock.

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.