Insider Buying: Culp (NYSE:CULP) CEO Purchases $18,423.72 in Stock

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp bought 4,874 shares of the company’s stock in a transaction on Friday, September 18th. The stock was bought at an average cost of $3.78 per share, with a total value of $18,423.72. Following the completion of the acquisition, the chief executive officer owned 133,959 shares of the company’s stock, valued at $506,365.02. This represents a 3.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Robert George Iv Culp also recently made the following trade(s):

• On Thursday, July 9th, Robert George Iv Culp purchased 2,768 shares of Culp stock. The shares were purchased at an average cost of $3.33 per share, for a total transaction of $9,217.44.

Culp Stock Performance

CULP opened at $3.58 on Thursday. The stock has a market cap of $45.59 million, a P/E ratio of -4.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 0.79. The stock’s 50 day simple moving average is $3.51 and its 200 day simple moving average is $3.25. Culp, Inc. has a 1-year low of $2.70 and a 1-year high of $4.75.

Culp (NYSE:CULP) last issued its quarterly earnings data on Wednesday, September 9th. The textile maker reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.03. The firm had revenue of $53.97 million during the quarter, compared to analysts’ expectations of $53.20 million. Culp had a negative return on equity of 12.53% and a negative net margin of 5.24%.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of Culp from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Culp currently has an average rating of “Reduce”.

Institutional Investors Weigh In On Culp

A number of institutional investors and hedge funds have recently bought and sold shares of CULP. BlackRock Inc. purchased a new position in Culp during the second quarter worth $863,000. Grace & White Inc. NY lifted its position in shares of Culp by 24.7% in the first quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock valued at $413,000 after acquiring an additional 29,845 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Culp in the second quarter valued at $158,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Culp during the second quarter valued at $47,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Culp Company Profile

Culp, Inc is a manufacturer and marketer of mattress fabrics and upholstery fabrics. The company supplies textile products used by bedding manufacturers, furniture producers, and other customers in residential, commercial, hospitality, and related end markets.

Through its Mattress Fabrics segment, Culp produces knitted and woven fabrics used in mattress covers, ticking, foundations, and other bedding applications. Its Upholstery Fabrics segment provides fabrics for residential furniture as well as commercial and hospitality furnishings, offering a range of designs, textures, and performance characteristics.

Founded in 1972 and headquartered in High Point, North Carolina, Culp serves customers in the United States and international markets through manufacturing and distribution operations in multiple countries.