Geode Capital Management LLC Buys 12,830 Shares of Culp, Inc. (NYSE:CULP)

Geode Capital Management LLC boosted its stake in Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,825 shares of the textile maker’s stock after purchasing an additional 12,830 shares during the quarter. Geode Capital Management LLC’s holdings in Culp were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Culp in a research note on Thursday. They issued a “hold” rating for the company.

Culp Trading Up 2.3 %

Shares of CULP opened at $5.70 on Friday. The company has a market cap of $71.59 million, a PE ratio of -3.39 and a beta of 1.18. The stock has a 50-day moving average price of $5.37 and a 200-day moving average price of $5.34. Culp, Inc. has a 12-month low of $4.25 and a 12-month high of $6.85.

Insider Activity

In other Culp news, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was purchased at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the transaction, the insider now owns 15,000 shares in the company, valued at $83,250. The trade was a 50.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert George Iv Culp acquired 8,508 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the acquisition, the chief executive officer now 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. In the last 90 days, insiders acquired 31,495 shares of company stock worth $167,062. 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.