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

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

Culp Stock Down 2.9 %

Shares of NYSE CULP opened at $4.86 on Friday. The firm has a market cap of $60.99 million, a PE ratio of -2.89 and a beta of 1.06. The company’s fifty day simple moving average is $5.24 and its 200 day simple moving average is $5.46. Culp has a 12-month low of $4.20 and a 12-month high of $6.85.

Insider Transactions at Culp

In other Culp 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 shares were acquired at an average cost of $4.94 per share, for a total transaction of $69,164.94. Following the completion of the acquisition, the chief executive officer now owns 92,030 shares of the company’s stock, valued at $454,628.20. The trade was a 17.94 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Aron R. English acquired 6,077 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $5.05 per share, for a total transaction of $30,688.85. Following the transaction, the insider now owns 1,711,304 shares of the company’s stock, valued at approximately $8,642,085.20. The trade was a 0.36 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 67,403 shares of company stock valued at $345,152 over the last ninety days. 7.30% of the stock is currently owned by insiders.

Institutional Trading of Culp

Several hedge funds have recently made changes to their positions in the company. 22NW LP raised its stake in Culp by 1.9% in the 4th quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock valued at $9,537,000 after acquiring an additional 30,325 shares during the period. Ameriprise Financial Inc. raised its position in shares of Culp by 8.4% in the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock valued at $3,181,000 after purchasing an additional 42,216 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Culp by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after buying an additional 5,091 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 in the last quarter. Finally, Northern Trust Corp grew its stake in 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. 75.05% of the stock is currently 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.