Geode Capital Management LLC Increases Holdings in Culp, Inc. (NYSE:CULP)

Geode Capital Management LLC grew its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,825 shares of the textile maker’s stock after purchasing an additional 12,830 shares during the quarter. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 at the end of the most recent reporting period.

Insider Transactions at Culp

In other news, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the purchase, the insider now owns 15,000 shares of the company’s stock, valued at $83,250. The trade was a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert George Iv Culp purchased 8,508 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average price of $5.42 per share, with a total value of $46,113.36. Following the purchase, the chief executive officer now directly owns 78,029 shares in the company, valued at $422,917.18. This trade represents a 12.24 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 31,495 shares of company stock worth $167,062. 7.30% of the stock is owned by company insiders.

Culp Stock Performance

CULP stock opened at $5.70 on Friday. The company has a market capitalization of $71.59 million, a price-to-earnings ratio of -3.39 and a beta of 1.18. Culp, Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The stock has a fifty day moving average of $5.37 and a 200-day moving average of $5.34.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Culp in a research report on Thursday. 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.