Culp, Inc. (NYSE:CULP) CEO Purchases $69,164.94 in Stock

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp acquired 14,001 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was purchased 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 directly 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 legal filing with the SEC, which is accessible through this hyperlink.

Culp Stock Up 3.3 %

NYSE:CULP opened at $5.18 on Friday. Culp, Inc. has a 12-month low of $4.20 and a 12-month high of $6.85. The firm has a market capitalization of $64.99 million, a P/E ratio of -3.08 and a beta of 1.06. The stock’s fifty day simple moving average is $5.31 and its 200-day simple moving average is $5.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. 22NW LP boosted its position 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 worth $9,537,000 after purchasing an additional 30,325 shares during the last quarter. Ameriprise Financial Inc. boosted its position 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. Dimensional Fund Advisors LP boosted its position 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 worth $3,156,000 after purchasing an additional 5,091 shares during the last quarter. Geode Capital Management LLC boosted its position 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 worth $680,000 after purchasing an additional 12,830 shares during the last quarter. Finally, Northern Trust Corp boosted its position 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 purchasing an additional 14,634 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Culp in a research report on Friday. They issued a “hold” rating on the 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.