Culp (NYSE:CULP) Now Covered by StockNews.com

Stock analysts at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a report released on Saturday. The firm set a “hold” rating on the textile maker’s stock.

Culp Trading Up 0.5 %

Shares of CULP opened at $5.36 on Friday. The firm has a market cap of $67.25 million, a price-to-earnings ratio of -3.19 and a beta of 1.06. Culp has a 52 week low of $4.20 and a 52 week high of $6.85. The stock has a 50 day moving average of $5.28 and a 200-day moving average of $5.47.

Insider Buying and Selling

In other news, major shareholder Aron R. English acquired 13,849 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were bought at an average price of $4.65 per share, with a total value of $64,397.85. Following the purchase, the insider now owns 1,638,564 shares of the company’s stock, valued at approximately $7,619,322.60. This represents a 0.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert George Iv Culp purchased 14,001 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired 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 $454,628.20. This represents a 17.94 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 69,493 shares of company stock valued at $357,337. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

Large investors have recently made changes to their positions in the business. 22NW LP increased its stake in Culp by 1.9% during the fourth 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. grew its stake 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 valued at $3,181,000 after purchasing an additional 42,216 shares during the period. Dimensional Fund Advisors LP grew its stake 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 valued at $3,156,000 after purchasing an additional 5,091 shares during the period. Geode Capital Management LLC grew its position in Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after acquiring an additional 12,830 shares during the last quarter. Finally, Northern Trust Corp grew its position in Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after acquiring an additional 14,634 shares during the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

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.