Culp (NYSE:CULP) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a research report released on Friday morning. The firm issued a hold rating on the textile maker’s stock.

Culp Trading Up 3.3 %

Shares of CULP stock opened at $5.18 on Friday. The firm has a market capitalization of $64.99 million, a price-to-earnings ratio of -3.08 and a beta of 1.06. The firm’s 50 day moving average is $5.31 and its 200-day moving average is $5.46. Culp has a 1 year low of $4.20 and a 1 year high of $6.85.

Insider Activity

In other Culp news, major shareholder Aron R. English bought 6,077 shares of Culp stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $5.05 per share, with a total value of $30,688.85. Following the purchase, the insider now owns 1,711,304 shares of the company’s stock, valued at $8,642,085.20. This trade represents a 0.36 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert George Iv Culp purchased 14,001 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $4.94 per share, with a total value of $69,164.94. Following the transaction, the chief executive officer now owns 92,030 shares in the company, valued at $454,628.20. This trade represents a 17.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 41,827 shares of company stock valued at $206,848. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CULP. 22NW LP increased its holdings in Culp by 1.9% in the fourth quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock valued at $9,537,000 after purchasing an additional 30,325 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Culp by 8.4% during the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock worth $3,181,000 after buying an additional 42,216 shares during the period. Dimensional Fund Advisors LP grew its position 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 buying an additional 5,091 shares during the period. Geode Capital Management LLC increased 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 valued at $680,000 after acquiring an additional 12,830 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Culp by 35.2% in the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after acquiring an additional 14,634 shares during the period. Institutional investors and hedge funds own 75.05% of the company’s 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.