StockNews.com Begins Coverage on Culp (NYSE:CULP)

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

Culp Trading Up 2.1%

NYSE CULP opened at $4.11 on Friday. The company has a fifty day simple moving average of $4.36 and a 200 day simple moving average of $4.99. The company has a market cap of $51.55 million, a P/E ratio of -2.44 and a beta of 1.16. Culp has a 1 year low of $3.42 and a 1 year high of $6.85.

Insider Buying and Selling

In related news, CEO Robert George Iv Culp purchased 14,001 shares of Culp stock in a transaction 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 acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Aron R. English purchased 20,000 shares of Culp stock in a transaction on Wednesday, March 19th. The stock was bought at an average cost of $5.60 per share, with a total value of $112,000.00. Following the completion of the acquisition, the insider now owns 1,859,061 shares in the company, valued at approximately $10,410,741.60. This trade represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 67,403 shares of company stock valued at $345,152. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in 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 during the period. Citadel Advisors LLC raised its stake in shares of Culp by 36.8% in the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after buying an additional 7,386 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Culp by 49.5% in the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after buying an additional 11,929 shares in the last quarter. Northern Trust Corp raised its stake 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 buying an additional 14,634 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC acquired a new position in shares of Culp in the 4th quarter valued at $137,000. 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.