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

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Monday. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Performance

Shares of NYSE CULP opened at $4.25 on Monday. The company has a market cap of $53.39 million, a P/E ratio of -2.53 and a beta of 1.00. The firm’s fifty day moving average is $5.16 and its two-hundred day moving average is $5.41. Culp has a 52-week low of $4.18 and a 52-week high of $6.85.

Insider Transactions at Culp

In related news, CEO Robert George Iv Culp purchased 14,001 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $4.94 per share, for a total transaction of $69,164.94. Following the completion of the transaction, 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 position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Aron R. English acquired 6,077 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $5.05 per share, for a total transaction of $30,688.85. Following the completion of the transaction, the insider now owns 1,711,304 shares of the company’s stock, valued at approximately $8,642,085.20. This trade represents a 0.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 67,403 shares of company stock valued at $345,152 in the last ninety days. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after buying an additional 12,830 shares during the period. HighTower Advisors LLC increased its position in Culp by 49.5% during the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after acquiring an additional 11,929 shares during the last quarter. Citadel Advisors LLC raised 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 valued at $161,000 after acquiring an additional 7,386 shares during the period. Northern Trust Corp lifted 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 worth $330,000 after acquiring an additional 14,634 shares during the last quarter. Finally, Wealthedge Investment Advisors LLC bought a new stake in shares of Culp in the 4th quarter worth about $137,000. Hedge funds and other institutional investors 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.