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

Equities research analysts at StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the textile maker’s stock.

Culp Trading Down 0.4 %

CULP stock opened at $5.18 on Wednesday. The business has a 50 day simple moving average of $5.48 and a 200-day simple moving average of $5.44. The company has a market capitalization of $65.06 million, a P/E ratio of -3.08 and a beta of 1.16. Culp has a twelve month low of $4.25 and a twelve month high of $6.85.

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

Insider Buying and Selling at Culp

In other news, CEO Robert George Iv Culp acquired 8,508 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of $5.42 per share, with a total value 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 represents a 12.24 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $5.55 per share, with a total value of $27,750.00. Following the transaction, the insider now owns 15,000 shares in the company, valued at $83,250. The trade was a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 31,495 shares of company stock valued at $167,062 in the last ninety days. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Culp

Hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC raised its stake 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 worth $161,000 after buying an additional 7,386 shares in the last quarter. HighTower Advisors LLC grew its holdings in Culp by 49.5% during the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after acquiring an additional 11,929 shares during the period. Northern Trust Corp raised its position in Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after acquiring an additional 14,634 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Culp by 14.1% in the third 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 period. Finally, Dimensional Fund Advisors LP boosted 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 purchasing an additional 5,091 shares in the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

Culp Company Profile

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.