StockNews.com Begins Coverage on Culp (NYSE:CULP)

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

Culp Stock Down 1.4 %

CULP opened at $5.36 on Tuesday. Culp has a twelve month low of $4.25 and a twelve month high of $6.85. The company has a fifty day moving average of $5.49 and a 200-day moving average of $5.42. The stock has a market cap of $67.26 million, a PE ratio of -3.19 and a beta of 1.16.

Culp (NYSE:CULP) last issued its quarterly earnings results on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share for the quarter. Culp had a negative return on equity of 22.50% and a negative net margin of 9.43%.

Insider Activity at Culp

In other news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of $5.55 per share, with a total value of $27,750.00. Following the completion of the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at $83,250. This trade represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert George Iv Culp purchased 8,508 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were acquired 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 represents a 12.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 31,495 shares of company stock worth $167,062 in the last quarter. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Culp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC lifted its position in shares of Culp by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after buying an additional 7,386 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Culp by 49.5% during the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after acquiring an additional 11,929 shares during the last quarter. Northern Trust Corp lifted its holdings in Culp by 35.2% during the fourth 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 period. Geode Capital Management LLC boosted its position in Culp by 14.1% in the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after purchasing an additional 12,830 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Culp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock worth $3,156,000 after purchasing an additional 5,091 shares during the last quarter. 75.05% of the stock is owned by hedge funds and other 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.