Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

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

Culp Stock Up 2.1%

Shares of NYSE:CULP opened at $4.11 on Friday. Culp has a 12-month low of $3.42 and a 12-month high of $6.85. The stock has a market cap of $51.55 million, a PE ratio of -2.44 and a beta of 1.16. The business has a 50 day moving average of $4.36 and a 200-day moving average of $5.00.

Insider Transactions at Culp

In related news, CEO Robert George Iv Culp acquired 14,001 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 92,030 shares of the company’s stock, valued at approximately $454,628.20. This trade represents a 17.94% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Aron R. English purchased 6,077 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $5.05 per share, with a total value of $30,688.85. Following the completion of the acquisition, the insider now owns 1,711,304 shares in the company, valued at approximately $8,642,085.20. This trade represents a 0.36% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 67,403 shares of company stock worth $345,152 over the last quarter. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

Large investors have recently bought and sold shares of the business. Wealthedge Investment Advisors LLC acquired a new stake in Culp during the 4th quarter worth about $137,000. Citadel Advisors LLC boosted its stake in 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 purchasing an additional 7,386 shares during the last quarter. HighTower Advisors LLC boosted its stake in Culp by 49.5% during the 4th 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 last quarter. Northern Trust Corp boosted its stake in Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after purchasing an additional 14,634 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Culp by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after purchasing an additional 5,091 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.