Culp, Inc. (NYSE:CULP) Major Shareholder Aron R. English Purchases 105,242 Shares of Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 105,242 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the purchase, the insider now owns 1,594,390 shares in the company, valued at approximately $10,060,600.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Culp Stock Up 6.1 %

Culp stock opened at $6.40 on Friday. The company’s 50-day moving average price is $5.13 and its two-hundred day moving average price is $4.74. The stock has a market cap of $79.81 million, a P/E ratio of -5.77 and a beta of 1.18. Culp, Inc. has a twelve month low of $4.25 and a twelve month high of $6.40.

Culp (NYSE:CULP) last announced its earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. The company had revenue of $49.53 million for the quarter, compared to analyst estimates of $49.76 million. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. During the same quarter last year, the company earned ($0.38) earnings per share.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Culp in a research report on Thursday. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. increased its stake in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the quarter. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 at the end of the most recent reporting period. 75.05% of the stock is currently owned by hedge funds and other 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.