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

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

Culp Trading Down 0.2%

Shares of NYSE CULP opened at $4.02 on Friday. The company has a fifty day moving average price of $4.43 and a 200 day moving average price of $5.04. The firm has a market cap of $50.49 million, a PE ratio of -2.39 and a beta of 1.16. Culp has a 1-year low of $3.42 and a 1-year high of $6.85.

Insider Buying and Selling

In related news, CEO Robert George Iv Culp acquired 14,001 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 92,030 shares of the company’s stock, valued at approximately $454,628.20. The trade was a 17.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Aron R. English bought 13,849 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $4.65 per share, for a total transaction of $64,397.85. Following the transaction, the insider now owns 1,638,564 shares of the company’s stock, valued at $7,619,322.60. The trade was a 0.85% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 67,403 shares of company stock worth $345,152. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its stake in shares of Culp by 8.4% during 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 in the last quarter. 22NW LP increased its holdings in Culp by 1.9% during the fourth quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock worth $9,537,000 after buying an additional 30,325 shares during the last quarter. Wealthedge Investment Advisors LLC bought a new stake in Culp during the fourth quarter worth $137,000. Northern Trust Corp lifted its stake in Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after acquiring an additional 14,634 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in 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 owned by institutional investors and hedge funds.

About Culp

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.