Aron R. English Acquires 9,006 Shares of Culp, Inc. (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 9,006 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were acquired at an average cost of $5.08 per share, with a total value of $45,750.48. Following the purchase, the insider now directly owns 1,730,103 shares of the company’s stock, valued at approximately $8,788,923.24. This represents a 0.52 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Culp Stock Up 7.7 %

NYSE:CULP opened at $5.55 on Wednesday. The company’s 50 day moving average price is $5.30 and its 200-day moving average price is $5.47. Culp, Inc. has a 52 week low of $4.20 and a 52 week high of $6.85. The stock has a market cap of $69.64 million, a price-to-earnings ratio of -3.30 and a beta of 1.06.

Institutional Investors Weigh In On Culp

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Culp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock worth $3,156,000 after purchasing an additional 5,091 shares during the last quarter. Citadel Advisors LLC boosted its holdings in Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after purchasing an additional 7,386 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Culp by 49.5% in 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 during the last quarter. Geode Capital Management LLC boosted its holdings in Culp by 14.1% in 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 during the last quarter. Finally, Northern Trust Corp boosted its holdings in Culp by 35.2% in 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 during the last quarter. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Culp in a research note on Friday, March 14th. They set a “hold” rating for the company.

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.