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

StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a report issued on Saturday. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Up 1.4 %

Shares of NYSE:CULP opened at $5.25 on Friday. The company has a market capitalization of $65.57 million, a price-to-earnings ratio of -3.70 and a beta of 1.22. The company has a 50 day moving average of $5.58 and a two-hundred day moving average of $5.10. Culp has a 52-week low of $4.25 and a 52-week high of $6.85.

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

Insider Buying and Selling at Culp

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

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. grew its holdings in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the period. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. Institutional investors 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.