Oppenheimer & Co. Inc. Cuts Stake in Culp, Inc. (NYSE:CULP)

Oppenheimer & Co. Inc. lowered its stake in shares of Culp, Inc. (NYSE:CULP) by 32.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,617 shares of the textile maker’s stock after selling 5,000 shares during the period. Oppenheimer & Co. Inc. owned 0.08% of Culp worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Geode Capital Management LLC increased its holdings in Culp by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after acquiring an additional 12,830 shares during the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Culp in a report on Thursday. They set a “hold” rating for the company.

Culp Trading Up 2.6 %

Shares of Culp stock opened at $4.52 on Monday. Culp, Inc. has a 12 month low of $4.20 and a 12 month high of $6.85. The stock has a 50 day moving average of $5.39 and a 200 day moving average of $5.46. The firm has a market cap of $56.70 million, a PE ratio of -2.69 and a beta of 1.06.

Insider Activity

In related news, CEO Robert George Iv Culp acquired 8,508 shares of Culp stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of $5.42 per share, with a total value of $46,113.36. Following the completion of the purchase, the chief executive officer now directly owns 78,029 shares of the company’s stock, valued at $422,917.18. The trade was a 12.24 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were bought at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the transaction, the insider now owns 15,000 shares of the company’s stock, valued at approximately $83,250. This trade represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 23,708 shares of company stock worth $128,488. 7.30% of the stock is currently owned by insiders.

Culp 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.