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

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

Culp Price Performance

Shares of NYSE:CULP opened at $5.36 on Friday. The stock has a market cap of $67.25 million, a P/E ratio of -3.19 and a beta of 1.06. The firm has a fifty day moving average price of $5.28 and a 200 day moving average price of $5.47. Culp has a 1-year low of $4.20 and a 1-year high of $6.85.

Insider Transactions at Culp

In other news, major shareholder Aron R. English bought 20,000 shares of Culp stock in a transaction dated Wednesday, March 19th. The stock was bought at an average price of $5.60 per share, for a total transaction of $112,000.00. Following the purchase, the insider now owns 1,859,061 shares of the company’s stock, valued at approximately $10,410,741.60. The trade was a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert George Iv Culp bought 14,001 shares of Culp stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $4.94 per share, with a total value of $69,164.94. Following the purchase, the chief executive officer now directly owns 92,030 shares in the company, valued at approximately $454,628.20. This trade represents a 17.94 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 69,493 shares of company stock worth $357,337. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

Several hedge funds have recently made changes to their positions in the company. 22NW LP increased its holdings in shares of Culp by 1.9% in the 4th 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 in the last quarter. 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. Dimensional Fund Advisors LP increased its holdings in shares of Culp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after purchasing an additional 5,091 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Culp by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after purchasing an additional 12,830 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Culp by 35.2% in the 4th 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. 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.