Culp (NYSE:CULP) Research Coverage Started at StockNews.com

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

Culp Stock Up 3.3 %

Culp stock opened at $5.18 on Friday. The business has a 50 day moving average price of $5.31 and a two-hundred day moving average price of $5.46. Culp has a 12 month low of $4.20 and a 12 month high of $6.85. The stock has a market cap of $64.99 million, a price-to-earnings ratio of -3.08 and a beta of 1.06.

Insider Buying and Selling

In related news, CEO Robert George Iv Culp bought 14,001 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was acquired 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 owns 92,030 shares in the company, valued at approximately $454,628.20. This represents a 17.94 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Aron R. English bought 13,849 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $4.65 per share, with a total value of $64,397.85. Following the transaction, the insider now directly owns 1,638,564 shares in the company, valued at $7,619,322.60. This trade represents a 0.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 41,827 shares of company stock valued at $206,848 over the last ninety days. 7.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. grew 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 worth $3,181,000 after purchasing an additional 42,216 shares during the last quarter. 22NW LP boosted its position in Culp by 1.9% in the fourth quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock valued at $9,537,000 after buying an additional 30,325 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new stake in Culp during the fourth quarter worth about $137,000. Northern Trust Corp increased its holdings 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 buying an additional 14,634 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Culp by 14.1% in the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after acquiring an additional 12,830 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.