Aron R. English Acquires 9,006 Shares of Culp, Inc. (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 9,006 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $5.08 per share, for a total transaction of $45,750.48. Following the purchase, the insider now directly owns 1,730,103 shares in the company, valued at approximately $8,788,923.24. The trade was a 0.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Culp Stock Performance

Shares of NYSE CULP opened at $5.55 on Wednesday. The company has a market cap of $69.64 million, a P/E ratio of -3.30 and a beta of 1.06. The firm’s fifty day moving average is $5.30 and its two-hundred day moving average is $5.47. Culp, Inc. has a 52-week low of $4.20 and a 52-week high of $6.85.

Institutional Trading of Culp

A number of institutional investors and hedge funds have recently bought and sold shares of CULP. Geode Capital Management LLC grew its stake in shares of Culp by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after buying an additional 12,830 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Culp by 49.5% during the 4th 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 during the period. Dimensional Fund Advisors LP boosted its stake in shares of Culp by 1.0% during the 4th 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 during the period. Northern Trust Corp boosted its stake in shares of Culp by 35.2% during the 4th 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 during the period. Finally, 22NW LP boosted its stake in shares of Culp by 1.9% during the 4th 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 during the period. 75.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Culp in a research report on Friday, March 14th. They set a “hold” rating on the stock.

About Culp

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.