Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

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

Culp Trading Down 3.8 %

NYSE:CULP opened at $5.03 on Friday. The firm has a market cap of $63.17 million, a PE ratio of -2.99 and a beta of 1.06. The stock has a fifty day moving average price of $5.32 and a 200 day moving average price of $5.45. Culp has a 12-month low of $4.20 and a 12-month high of $6.85.

Insiders Place Their Bets

In other news, CEO Robert George Iv Culp bought 14,001 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $4.94 per share, for a total transaction of $69,164.94. Following the completion of the transaction, the chief executive officer now owns 92,030 shares of the company’s stock, valued at approximately $454,628.20. This trade represents a 17.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Aron R. English bought 13,849 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $4.65 per share, for a total transaction of $64,397.85. Following the transaction, the insider now directly owns 1,638,564 shares of the company’s stock, valued at approximately $7,619,322.60. This represents a 0.85 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 46,827 shares of company stock valued at $234,598 in the last ninety days. Insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

A number of hedge funds and other institutional investors have recently made changes to their positions in CULP. Geode Capital Management LLC increased its position 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 purchasing an additional 12,830 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 worth $212,000 after purchasing an additional 11,929 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 purchasing an additional 5,091 shares in the last quarter. Northern Trust Corp increased its position in shares of 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 purchasing an additional 14,634 shares in the last quarter. Finally, 22NW LP increased its position in shares of Culp by 1.9% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

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.