Culp (NYSE:CULP) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Culp (NYSE:CULP) in a research report sent to investors on Tuesday morning. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Performance

Shares of NYSE CULP opened at $3.92 on Tuesday. The firm has a market cap of $49.28 million, a PE ratio of -2.34 and a beta of 1.00. Culp has a one year low of $3.82 and a one year high of $6.85. The firm has a fifty day moving average of $4.96 and a 200 day moving average of $5.31.

Insider Buying and Selling at Culp

In other Culp news, major shareholder Aron R. English bought 13,849 shares of Culp stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $4.65 per share, for a total transaction of $64,397.85. Following the completion of the transaction, the insider now directly owns 1,638,564 shares of the company’s stock, valued at approximately $7,619,322.60. This represents a 0.85 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert George Iv Culp purchased 14,001 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $4.94 per share, for a total transaction of $69,164.94. Following the completion of the purchase, the chief executive officer now owns 92,030 shares of the company’s stock, valued at approximately $454,628.20. This represents a 17.94 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 67,403 shares of company stock valued at $345,152 over the last quarter. 7.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Culp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealthedge Investment Advisors LLC acquired a new position in Culp during the fourth quarter worth $137,000. Citadel Advisors LLC boosted its position in shares of Culp by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after acquiring an additional 7,386 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Culp by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after purchasing an additional 11,929 shares during the period. Northern Trust Corp increased its position 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 purchasing an additional 14,634 shares during the last quarter. Finally, Geode Capital Management LLC raised 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 purchasing an additional 12,830 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.