Culp (NYSE:CULP) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Stock Down 3.6 %

Shares of CULP opened at $5.16 on Friday. The firm has a market cap of $64.80 million, a price-to-earnings ratio of -3.07 and a beta of 1.06. The company’s fifty day moving average is $5.26 and its 200-day moving average is $5.47. Culp has a 12 month low of $4.20 and a 12 month high of $6.85.

Insider Buying and Selling at Culp

In other news, CEO Robert George Iv Culp acquired 14,001 shares of Culp stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $4.94 per share, for a total transaction of $69,164.94. Following the completion of the purchase, the chief executive officer now owns 92,030 shares of the company’s stock, valued at $454,628.20. This represents a 17.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Aron R. English bought 20,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average price of $5.60 per share, for a total transaction of $112,000.00. Following the completion of the purchase, the insider now directly owns 1,859,061 shares in the company, valued at $10,410,741.60. The trade was a 1.09 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 69,493 shares of company stock worth $357,337 over the last three months. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Culp

Hedge funds have recently bought and sold shares of the company. 22NW LP lifted its position in shares of Culp by 1.9% during 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. increased its position in 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 buying an additional 42,216 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Culp by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock worth $3,156,000 after buying an additional 5,091 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Culp by 14.1% during the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after buying 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 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 period. 75.05% of the stock is currently owned by institutional investors.

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.