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

Analysts at StockNews.com began coverage on shares of Culp (NYSE:CULP) in a report released on Thursday. The firm set a “hold” rating on the textile maker’s stock.

Culp Stock Performance

Shares of CULP opened at $4.52 on Thursday. The company has a 50-day simple moving average of $5.39 and a 200-day simple moving average of $5.45. The firm has a market capitalization of $56.70 million, a P/E ratio of -2.69 and a beta of 1.16. Culp has a 52 week low of $4.20 and a 52 week high of $6.85.

Culp (NYSE:CULP) last announced its quarterly earnings data on Wednesday, December 4th. The textile maker reported ($0.29) EPS for the quarter. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Insider Activity at Culp

In other Culp news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $5.55 per share, with a total value of $27,750.00. Following the completion of the purchase, the insider now directly owns 15,000 shares in the company, valued at $83,250. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert George Iv Culp bought 8,508 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was acquired at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the purchase, the chief executive officer now owns 78,029 shares of the company’s stock, valued at $422,917.18. This trade represents a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 31,495 shares of company stock valued at $167,062 over the last quarter. 7.30% of the stock is owned by company insiders.

Institutional Trading of Culp

Several large investors have recently added to or reduced their stakes in the company. 22NW LP grew its stake in Culp by 1.9% during the fourth quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock worth $9,537,000 after buying an additional 30,325 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Culp by 8.4% during the fourth 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 last quarter. Dimensional Fund Advisors LP grew its stake in Culp by 1.0% during the fourth 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 last quarter. Geode Capital Management LLC grew its stake in Culp by 14.1% during the third 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 during the last quarter. Finally, Northern Trust Corp grew its stake in Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after buying an additional 14,634 shares during the last quarter. 75.05% of the stock is owned by institutional investors.

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.