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

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

Culp Trading Up 1.4 %

NYSE CULP opened at $5.16 on Friday. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The firm has a market capitalization of $64.45 million, a P/E ratio of -3.63 and a beta of 1.22. The business has a fifty day simple moving average of $5.68 and a 200 day simple moving average of $5.07.

Culp (NYSE:CULP) last posted its quarterly earnings data on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share (EPS) for the quarter. The company had revenue of $56.54 million for the quarter. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%.

Insider Buying and Selling at Culp

In related news, major shareholder Aron R. English acquired 7,652 shares of Culp stock in a transaction dated Monday, September 9th. The stock was purchased at an average cost of $5.39 per share, for a total transaction of $41,244.28. Following the purchase, the insider now directly owns 1,347,366 shares of the company’s stock, valued at approximately $7,262,302.74. This trade represents a 0.57 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sharon A. Decker bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average cost of $5.99 per share, with a total value of $29,950.00. Following the acquisition, the director now directly owns 45,383 shares in the company, valued at $271,844.17. This trade represents a 12.38 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 238,959 shares of company stock worth $1,440,336 over the last 90 days. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. raised its holdings in Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the quarter. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent filing with the Securities & Exchange Commission. 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.