Culp (NYSE:CULP) Research Coverage Started at StockNews.com

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

Culp Stock Down 0.7 %

Shares of NYSE:CULP opened at $5.58 on Monday. The company has a market cap of $69.58 million, a PE ratio of -5.03 and a beta of 1.19. The company’s 50-day moving average price is $5.61 and its 200 day moving average price is $4.96. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85.

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

Insiders Place Their Bets

In related news, Director Sharon A. Decker purchased 5,000 shares of the company’s stock in a transaction on 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 owns 45,383 shares of the company’s stock, valued at $271,844.17. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Culp news, Director Sharon A. Decker acquired 5,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were bought at an average price of $5.99 per share, with a total value of $29,950.00. Following the purchase, the director now directly owns 45,383 shares of the company’s stock, valued at approximately $271,844.17. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Aron R. English acquired 105,242 shares of the stock in a transaction dated Thursday, September 19th. The stock was acquired at an average cost of $6.31 per share, for a total transaction of $664,077.02. Following the purchase, the insider now directly owns 1,594,390 shares in the company, valued at approximately $10,060,600.90. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 238,959 shares of company stock worth $1,440,336. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. lifted its position in Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the period. Vanguard Group Inc. owned about 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.

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.